Investment Funds (Tables)

12 Months Ended

Dec. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investment Funds

Investment funds consist of the following:

	Carrying Value as of December 31,				Income (Losses)
(In thousands)	2016		2015		2016		2015			2014
Real estate	$	641,783	$	580,830	$	50,415	$	58,032		$	26,233
Energy	91,448		93,719		19,747		(37,373		)	12,797
Hedged equity	73,913		70,580		3,334		(2,762		)	10,760
Other funds	391,002		424,911		25,805		44,331			81,859
Total	$	1,198,146	$	1,170,040	$	99,301	$	62,228		$	131,649

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

Other funds include private equity investments carried on the equity method of accounting, which included the Company's publicly traded common stock investment in HealthEquity, Inc. (HQY) in 2015. The Company's ownership interest in HQY was approximately 21%, as of December 31, 2015, with a fair value of $300.1 million and a carrying value of $45.4 million. In October 2016, the Company sold approximately 2.2 million shares in HQY, reducing the Company's ownership to 16.5% and causing the Company to report its investment in HQY at fair value as an available for sale security rather than under investment funds.