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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present, as of March 31, 2025 and December 31, 2024, the classification of (i) investments and certain other assets and liabilities measured at fair value on a recurring basis within the fair value hierarchy and (ii) investments measured at NAV or its equivalent as a practical expedient:
March 31, 2025
Level 1Level 2Level 3NAVTotal
Assets:
Cash and cash equivalents (a)$398 $– $– $– $398 
Deposits with banks and short-term
   investments (a)		24,482 – – – 24,482 
Investments:
Debt3,381 378 – – 3,759 
Equity48,797 – 599 – 49,396 
Funds:
Alternative investments7,290 – – 43,050 50,340 
Debt94,954 16,794 – 3 111,751 
Equity227,028 303 – 53 227,384 
Private equity– – 267 46,020 46,287 
Derivatives– 1,361 – – 1,361 
Total$406,330 $18,836 $866 $89,126 $515,158 
Liabilities:
Securities sold, not yet purchased$3,476 $– $– $– $3,476 
Contingent consideration liability– – 2,221 – 2,221 
Derivatives– 172,140 – – 172,140 
Total$3,476 $172,140 $2,221 $– $177,837 
December 31, 2024
Level 1Level 2Level 3NAVTotal
Assets:
Cash and cash equivalents (a)$5,982 $– $– $– $5,982 
Deposits with banks and short-term
   investments (a)		24,666 – – – 24,666 
Investments:
Equity58,034 – 589 – 58,623 
Funds:
Alternative investments10,763 – – 48,467 59,230 
Debt129,004 18,166 – 3 147,173 
Equity289,244 316 – 50 289,610 
Private equity– – 256 43,156 43,412 
Derivatives– 3,787 – – 3,787 
Total$517,693 $22,269 $845 $91,676 $632,483 
Liabilities:
Securities sold, not yet purchased$4,529 $– $– $– $4,529 
Contingent consideration liability– – 4,495 – 4,495 
Derivatives– 274,280 – – 274,280 
Total$4,529 $274,280 $4,495 $– $283,304 
___________________________________
(a)Level 1 represents U.S. Treasury securities.
Schedule of Changes in Fair Value of Company's Level 3 Assets and Liabilities
The following tables provide a summary of changes in fair value of the Company’s Level 3 assets and liabilities for the three month periods ended March 31, 2025 and 2024:
Three Months Ended March 31, 2025
Beginning
Balance		Net Unrealized/
Realized
Gains/Losses
Included In
Earnings (a)		Purchases/
Issuances		Sales/
Settlements 		Foreign
Currency
Translation
Adjustments		Ending
Balance
Assets:
Investments:
Equity$589 $1 $– $– $9 $599 
Private equity funds256 – – – 11 267 
Total Level 3 assets$845 $1 $– $– $20 $866 
Liabilities:
Contingent consideration
   liability (b)		$4,495 $26 $– $(2,300)$– $2,221 
Total Level 3 liabilities$4,495 $26 $– $(2,300)$– $2,221 
Three Months Ended March 31, 2024
Beginning
Balance		Net Unrealized/
Realized
Gains/Losses
Included In
Earnings (a)		Purchases/
Issuances		Sales/
Settlements/		Foreign
Currency
Translation
Adjustments		Ending
Balance
Assets:
Investments:
Equity$493 $– $– $– $(18)$475 
Private equity funds273 – – – (6)267 
Total Level 3 assets$766 $– $– $– $(24)$742 
Liabilities:
Contingent consideration
   liability (b)		$6,583 $53 $– $(2,300)$– $4,336 
Total Level 3 liabilities$6,583 $53 $– $(2,300)$– $4,336 
_________________________________

(a)Unrealized losses of $26 and $53 were recorded in “operating expenses-other” for the contingency consideration liability for the three month periods ended March 31, 2025 and 2024, respectively.
(b)For the three month periods ended March 31, 2025 and 2024, settlements represent aggregate cash and noncash settlement of contingent consideration after the acquisition date.
Schedule of Fair Value of Certain Investments Based on NAV
The following tables present, at March 31, 2025 and December 31, 2024, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:
March 31, 2025
Investments Redeemable
NAV
Unfunded
Commitments
% of
NAV
Not
Redeemable
Redemption
Frequency
Redemption
Notice Period
Alternative investment funds:
Hedge funds$42,329 $– NA(a)
<30-60 days
Other721 – NA(b)
<30-90 days
Debt funds3 – NA(c)
<30-30 days
Equity funds53 – NA(d)
<30-30 days
Private equity funds:
Equity growth46,020 6,068 (e)100%(f)NANA
Total$89,126 $6,068 
___________________________________

(a)monthly (100%)
(b)daily (5%) and monthly (95%)
(c)daily (100%)
(d)monthly (100%)
(e)Unfunded commitments to private equity investments consolidated but not owned by Lazard of $20,205 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.
(f)Distributions from each fund will be received as the underlying investments of the funds are liquidated.
December 31, 2024
Investments Redeemable
NAVUnfunded
Commitments		% of
NAV
Not
Redeemable		Redemption
Frequency		Redemption
Notice Period
Alternative investment funds:
Hedge funds$47,788 $– NA(a)
30-60 days
Other679 – NA(b)
<30-90 days
Debt funds3 – NA(c)
<30 days
Equity funds50 – NA(d)
<30-30 days
Private equity funds:
Equity growth43,156 6,068 (e)100%(f)NANA
Total$91,676 $6,068 
___________________________________

(a)monthly (100%)
(b)daily (5%) and monthly (95%)
(c)daily (100%)
(d)monthly (100%)
(e)Unfunded commitments to private equity investments consolidated but not owned by Lazard of $20,205 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.
(f)Distributions from each fund will be received as the underlying investments of the funds are liquidated.