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Investments
 12 Months Ended
Dec. 31, 2019
Investments Schedule [Abstract]  
Investments Investments

Investments consist primarily of investments in the Company's sponsored products. The Company’s investments, excluding the assets of CIP discussed in Note 20, at December 31, 2019 and 2018 were as follows: 
 
December 31,
(in thousands)
2019
 
2018
Investment securities - fair value
$
60,990

 
$
59,271

Investment securities - available for sale
—

 
2,023

Equity method investments
12,030

 
10,573

Nonqualified retirement plan assets
8,724

 
6,716

Other investments
1,462

 
975

Total investments
$
83,206

 
$
79,558


 
Investment Securities - fair value

Investment securities - fair value consist of investments in the Company's sponsored funds, separately managed accounts and trading debt securities. The composition of the Company’s investment securities - fair value were as follows: 
December 31, 2019
 
 
 
(in thousands)
Cost
 
Fair
Value
Investment Securities - fair value:
 
 
 
Sponsored funds
$
44,588

 
$
47,654

Equity securities
11,250

 
13,320

Debt securities
44

 
16

Total investment securities - fair value
$
55,882

 
$
60,990

 
December 31, 2018
 
(in thousands)
Cost
 
Fair
Value
Investment Securities - fair value:
 
 
 
Sponsored funds
$
43,507

 
$
40,191

Equity securities
16,380

 
16,981

Debt securities
3,816

 
2,099

Total investment securities - fair value
$
63,703

 
$
59,271



For the years ended December 31, 2019 and December 31, 2018, the Company recognized a net realized gain of $0.8 million and $1.8 million, respectively, on the sale of its investment securities - fair value. For the year ended December 31, 2017, the Company recognized a net realized loss of $1.5 million on the sale of its investment securities - fair value.

Investments Securities - available for sale

The investment securities - available for sale consists of investments in CLOs for which the Company provides investment management services and does not consolidate. The Company had no investment securities - available for sale as of December 31, 2019. The composition of the Company’s investment securities - available for sale at December 31, 2018 were as follows:
December 31, 2018
(in thousands)
Cost
 
Unrealized
Loss
 
Unrealized
Gain
 
Fair
Value
Investments in CLOs
$
3,696

 
$
(1,673
)
 
$
—

 
$
2,023



Equity Method Investments

The Company's equity method investments primarily consist of investments in limited partnerships. For the years ended December 31, 2019, 2018 and 2017, distributions from equity method investments were $0.8 million, $4.2 million and $0.9 million, respectively. The remaining capital commitment for one of the Company's equity method investments at December 31, 2019 is $0.5 million.

Nonqualified Retirement Plan Assets

The Company's Excess Incentive Plan allows certain employees to voluntarily defer compensation. The Company holds the Excess Incentive Plan assets in a rabbi trust, which is subject to the claims of the Company’s creditors in the event of the Company’s bankruptcy or insolvency. Each participant is responsible for designating investment options for their contributions, and the ultimate distribution paid to each participant reflects any gains or losses on the assets realized while in the trust. Assets held in trust are included in investments and are carried at fair value utilizing Level 1 valuation techniques in accordance with ASC 320; the associated obligations to participants are included in other liabilities in the Consolidated Balance Sheets.

Other Investments

Other investments represent interests in entities not accounted for under the equity method such as the cost method.