Investment Funds

6 Months Ended

Jun. 30, 2013

Equity Method Investments and Joint Ventures [Abstract]

Investment Funds

Investment funds consist of the following:



	Carrying Value as of				Income (Losses) from Investment Funds
	June 30,		December 31,		For the Six Months Ended June 30,
(In thousands)	2013		2012		2013		2012
Real estate	$	381,855	$	373,259	$	1,260	$	11,290
Energy	146,966		146,325		25,199		49,780
Arbitrage	65,651		63,920		1,731		(662		)
Other	263,922		226,185		5,320		2,834
Total	$	858,394	$	809,689	$	33,510	$	63,242

The Company's share of the earnings or losses of investment funds is generally reported on a one-quarter lag in order to facilitate the timely completion of the Company's consolidated financial statements.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References+ Details