Note 15. Investments in unconsolidated entities

Sirius Group’s investments in unconsolidated entities are included within Other long-term investments and consist of investments in common equity securities or similar instruments, which give Sirius Group the ability to exert significant influence over the investee’s operating and financial policies (“equity method eligible unconsolidated entities”). Such investments may be accounted for under either the equity method or, alternatively, Sirius Group may elect to account for them under the fair value option.

The following table presents the components of Other long-term investments as of March 31, 2019 and December 31, 2018:


(Millions)	March 31, 2019		December 31, 2018
Equity method eligible unconsolidated entities, at fair value	$	167.5	$	169.4
Other unconsolidated investments, at fair value(1)		222.2		195.6
Total Other long-term investments(2)	$	389.7	$	365.0

⁽¹⁾

Includes Other long-term investments that are not equity method eligible.

⁽²⁾

There were no investments accounted for using the equity method as of March 31, 2019 and December 31, 2018.

Equity method eligible unconsolidated entities, at fair value

Sirius Group has elected the fair value option to account for its equity method eligible investments accounted for as part of Other long-term investments for consistency of presentation with the rest of its investment portfolio. The following table presents Sirius Group’s investments in equity method eligible unconsolidated entities as of March 31, 2019 and December 31, 2018 with ownership interest greater than 20%:


	Ownership interest at
	March 31,		December 31,
Investee	2019		2018		Instrument Held
BE Reinsurance Limited	25.0	%	25.0	%	Common shares
BioVentures Investors (Offshore) IV LP	73.0	%	73.0	%	Units
Camden Partners Strategic Fund V (Cayman), LP	39.4	%	36.4	%	Units
NEC Cypress Buyer LLC	23.5	%	13.3	%	Units
New Energy Capital Infrastructure Credit Fund LP(1)	18.3	%	22.9	%	Units
New Energy Capital Infrastructure Offshore Credit Fund LP(1)	12.2	%	54.9	%	Units
Scion G7, LP	28.3	%	28.8	%	Units
Tuckerman Capital V LP	48.3	%	47.6	%	Units
Tuckerman Capital V Co-Investment I LP	49.5	%	47.7	%	Units

⁽¹⁾

The ownership percentage of New Energy Capital Infrastructure Credit Fund LP and New Energy Capital Infrastructure Offshore Credit Fund LP was greater than 20% at December 31, 2018 but was less than 20% at March 31, 2019 and is included in the table for comparative purposes.