Investment Funds

12 Months Ended

Dec. 31, 2011

Investment funds consist of the following:



	Carrying Value as of December 31,				Income (Losses) from Investment Funds
(Dollars in thousands)	2011		2010		2011			2010			2009
Real estate	$	373,413	$	226,183	$	14,527		$	(4,766	)	$	(159,569	)
Energy	98,974		96,511		(6,101		)	996			(13,227		)
Arbitrage	58,008		60,660		(1,366		)	1,692			9,691
Other	150,243		129,057		2,392			(4,403		)	(757		)
Total	$	680,638	$	512,411	$	9,452		$	(6,481	)	$	(163,862	)

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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