INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments and Securities Sold, not yet Purchased

The Company’s investments consist of the following at September 30, 2023 and December 31, 2022:


	September 30, 2023		December 31, 2022
Debt	$	4,481	$	-
Equities	40,659		43,889
Funds:
Alternative investments (a)	60,210		56,947
Debt (a)	183,790		178,556
Equity (a)	324,239		350,282
Private equity	44,501		53,822
	612,740		639,607
Investments, at fair value	657,880		683,496
Equity method investments	-		15,481
Total investments	$	657,880	$	698,977

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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 $27,145, $168,624 and $262,223, respectively, at September 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 nine month periods ended September 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net unrealized investment gains (losses)	$	(23,879)	$	(31,093)	$	14,551	$	(134,091)