Investment Funds Investment Funds

3 Months Ended

Mar. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Investment Funds

Investment funds consist of the following:



	Carrying Value as of				Income (Loss) from Investment Funds
	March 31,		December 31,		For the Three Months Ended March 31,
(In thousands)	2014		2013		2014		2013
Real estate	$	273,748	$	378,435	$	12,295	$	(2,001	)
Energy	159,612		155,026		8,601		9,466
Arbitrage	276,682		271,575		5,107		(458		)
Other	246,659		262,459		27,796		3,927
Total	$	956,701	$	1,067,495	$	53,799	$	10,934

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.

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