Investment Funds Investment Funds

9 Months Ended

Sep. 30, 2014

Equity Method Investments and Joint Ventures [Abstract]

Investment Funds

Investment funds consist of the following:



	Carrying Value as of				Income from Investment Funds
	September 30,		December 31,		For the Nine Months Ended September 30,
(In thousands)	2014		2013		2014		2013
Real estate	$	282,431	$	378,435	$	24,341	$	5,777
Energy	159,857		155,026		18,136		25,959
Arbitrage	286,845		271,575		15,270		3,050
Other	290,999		262,459		77,485		10,462
Total	$	1,020,132	$	1,067,495	$	135,232	$	45,248

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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