Investments (Tables)

6 Months Ended

Jun. 30, 2022

Company's Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at June 30, 2022 and December 31, 2021:

	June 30,		December 31,
	2022		2021
Debt	$	99,988	$	299,990
Equities		45,704		54,040
Funds:
Alternative investments (a)		54,003		49,757
Debt (a)		181,322		164,952
Equity (a)		352,544		375,761
Private equity		37,663		46,589
		625,532		637,059
Equity method		15,915		16,250
Total investments		787,139		1,007,339
Less:
Equity method		15,915		16,250
Investments, at fair value	$	771,224	$	991,089
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	4,948	$	6,828

(a)

Interests in alternative investment funds, debt funds and equity funds include investments with fair values of $23,799, $150,882 and $277,940, respectively, at June 30, 2022 and $18,326, $132,875 and $306,618, respectively, at December 31, 2021, held in order to satisfy the Company’s liability upon vesting of previously granted Lazard Fund Interests (“LFI”) and other similar deferred compensation arrangements. LFI represent grants by the Company to eligible employees of actual or notional interests in a number of Lazard-managed funds, subject to service-based vesting conditions (see Notes 6 and 12).

Schedule of Equity Securities and Trading Debt Securities Net Unrealized Investment Gains and Losses

During the three month and six month periods ended June 30, 2022 and 2021, the Company reported in “revenue-other” on its condensed consolidated statements of operations net unrealized investment gains and losses pertaining to “equity securities and trading debt securities” still held as of the reporting date as follows:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2022			2021		2022			2021
Net unrealized investment gains (losses)	$	(62,131	)	$	18,637	$	(102,998	)	$	19,691