v3.25.2
INVESTMENTS (Tables)
6 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments
The Company’s investments consist of the following at June 30, 2025 and December 31, 2024:
June 30,
2025
December 31,
2024
Debt$207 $– 
Equity56,315 58,623 
Funds:
Alternative investments (a)52,872 59,230 
Debt (a)111,201 147,173 
Equity (a)348,302 289,610 
Private equity50,090 43,412 
Total funds562,465 539,425 
Investments, at fair value618,987 598,048 
Equity method investments18,486 16,899 
Total investments$637,473 $614,947 
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(a)Interests in alternative investment funds, debt funds and equity funds include investments (fair values shown below), including those held by LFI Consolidated Funds (see Note 21), held 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 7 and 13).
June 30,
2025
December 31,
2024
Investments related to LFI and other similar
   deferred compensation arrangements:
   Alternative investments$21,805 $23,865 
   Debt93,022 126,407 
   Equity170,356 223,729 
Total $285,183 $374,001 
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, 2025 and 2024, 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,
2025202420252024
Net unrealized investment gains (losses)$48,225 $(10,248)$39,241 $753