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Investments in Equity Method Affiliates (Tables) | 12 Months Ended
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Dec. 31, 2012
Schedule of Investment in Equity Method Affiliates | The following table summarizes the activity and the earnings of the Company’s equity method affiliates. INVESTMENT IN EQUITY METHOD AFFILIATES (Dollars in Thousands)
|  | Investment in |  |  | Total |
|  | Star Asia Manager |  |  | Deep Value GP |  |  | Deep Value GP II |  |  | Star Asia SPV |  |  | Star Asia Opportunity |  |  | Star Asia Capital Management |  |  | Star Asia Opportunity II (1) |  |  | SAA Manager |  |  | Duart Capital and Other |  |
Balance at December 31, 2009 |  | $ | 343 |  |  | $ | 97 |  |  | $ | 37 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 477 |
Investments / advances |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,283 |  |  |  | 5,783 |
Distributions / repayments |  |  | (975 | ) |  |  | (5,904 | ) |  |  | — |  |  |  | (3,104 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (9,983 | )
In-kind distribution |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (55 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (55 | )
Earnings / (loss) realized |  |  | 834 |  |  |  | 6,076 |  |  |  | (6 | ) |  |  | 263 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,283 | ) |  |  | 5,884 |
Balance at December 31, 2010 |  |  | 202 |  |  |  | 269 |  |  |  | 31 |  |  |  | 1,604 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,106 |
Investments / advances |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | 4,055 |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 964 |  |  |  | 5,031 |
Distributions / repayments |  |  | (850 | ) |  |  | (4,597 | ) |  |  | — |  |  |  | (1,846 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7,293 | )
Earnings / (loss) realized |  |  | 1,694 |  |  |  | 4,349 |  |  |  | 2 |  |  |  | 702 |  |  |  | 405 |  |  |  | 44 |  |  |  | — |  |  |  | — |  |  |  | (964 | ) |  |  | 6,232 |
Balance at December 31, 2011 |  |  | 1,046 |  |  |  | 21 |  |  |  | 33 |  |  |  | 466 |  |  |  | 4,460 |  |  |  | 50 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,076 |
Investments / advances |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | 6 |  |  |  | 4,700 |  |  |  | — |  |  |  | — |  |  |  | 4,716 |
Distributions / repayments |  |  | (1,600 | ) |  |  | — |  |  |  | (1,720 | ) |  |  | (662 | ) |  |  | (4,982 | ) |  |  | (652 | ) |  |  | (2,477 | ) |  |  | — |  |  |  | — |  |  |  | (12,093 | )
Reorganization |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,841 | ) |  |  | — |  |  |  | — |  |  |  | (1,841 | )
Earnings / (loss) realized |  |  | 1,101 |  |  |  | (14 | ) |  |  | 1,726 |  |  |  | 1,581 |  |  |  | 544 |  |  |  | 504 |  |  |  | (382 | ) |  |  | (8 | ) |  |  | — |  |  |  | 5,052 |
Balance at December 31, 2012 |  | $ | 547 |  |  | $ | 7 |  |  | $ | 39 |  |  | $ | 1,395 |  |  | $ | 22 |  |  | $ | (92 | ) |  | $ | — |  |  | $ | (8 | ) |  | $ | — |  |  | $ | 1,910 |
(1) | On December 20, 2012 Star Asia Opportunity II completed a reorganization whereby its assets were contributed into a subsidiary of the Star Asia Special Situations Fund. The net effect of the reorganization to the Company was that the Company exchanged its ownership interest in Star Asia Opportunity II for cash and an interest in the Star Asia Special Situations Fund. The Star Asia Special Situations Fund is carried at fair value and included as a component of other assets, at fair value.
The cash received by the Company in the reorganization is included as distributions / repayments above. The remaining carrying value of the Company’s equity method investment in Star Asia Opportunity II was $1,841 after taking into account the cash distribution from the reorganization. This amount was reclassified from investments in equity method affiliates to other investments, at fair value. It is shown as reorganization in the table above and is treated as the cost basis of the Company’s investment in the Star Asia Special Situations Fund. Any difference between the cost basis assigned and the fair value of the Company’s investment in the Star Asia Special Situations Fund is included as a component of principal transactions, and other income. See notes 8, 9, 28 and 29.
Schedule of Summary Data of Equity Method Investees | This aggregated summarized financial data does not represent the Company’s proportionate share of equity method investees’ assets or earnings. SUMMARY DATA OF EQUITY METHOD INVESTEES (unaudited) (Dollars in Thousands)
|  | December 31, 2012 |  |  | December 31, 2011 |
Total Assets |  | $ | 279,874 |  |  | $ | 257,735 |
Liabilities |  | $ | 96,981 |  |  | $ | 68,530 |
Equity attributable to the investees |  |  | 182,277 |  |  |  | 188,170 |
Non-controlling interest |  |  | 616 |  |  |  | 1,035 |
Liabilities & Equity |  | $ | 279,874 |  |  | $ | 257,735 |
|  | Year Ended December 31, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Net income / (loss) |  | $ | 2,248 |  |  | $ | 12,786 |  |  | $ | 62,664 |
Net income / (loss) attributable to the investees |  | $ | 2,667 |  |  | $ | 12,818 |  |  | $ | 62,583 |

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- Definition The table represents the underlying financial position and financial performance of the entities that the company has an investment in and accounts for as equity method investees and for those entities for which equity method treatment applies but the Company has elected to account for them pursuant to the fair value option. It does not represent the Company's proportionate share of the entities. + References No definition available. + Details
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- Definition The table represents a rollforward of the Company's investment in the equity method affiliates. It includes advances, distributions and the Company's proportionate share of the net income from the equity method affiliates. + References No definition available. + Details
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