INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments and Securities Sold, Not Yet Purchased

The Company’s investments and securities sold, not yet purchased, consist of the following at June 30, 2023 and December 31, 2022:


	June 30, 2023		December 31, 2022
Debt	$	5,022	$	-
Equities	44,603		43,889
Funds:
Alternative investments (a)	59,817		56,947
Debt (a)	183,352		178,556
Equity (a)	354,223		350,282
Private equity	43,182		53,822
	640,574		639,607
Investments, at fair value	690,199		683,496
Equity method investments	-		15,481
Total investments	$	690,199	$	698,977
Securities sold, not yet purchased, at fair value (included in “other liabilities”)	$	1,550	$	4,651

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(a)Interests in alternative investment funds, debt funds and equity funds include investments, including those held by LFI Consolidated Funds (see Note 20), with fair values of $27,181, $167,889 and $288,098, respectively, at June 30, 2023 and $24,137, $142,632 and $266,528, respectively, at December 31, 2022, held in order to satisfy the Company’s obligation 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 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, 2023 and 2022, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net unrealized investment gains (losses)	$	13,643	$	(62,131)	$	38,430	$	(102,998)