| Company's Investments and Securities Sold, Not Yet Purchased |
The
Company’s investments and securities sold, not yet purchased,
consist of the following at December 31, 2015 and 2014:
|
|
|
|
|
|
|
|
|
| |
|
December
31, |
|
| |
|
2015 |
|
|
2014 |
|
|
Interest-bearing deposits
|
|
$ |
54,885 |
|
|
$ |
84,575 |
|
|
|
|
|
|
|
|
|
|
|
Debt
|
|
|
535 |
|
|
|
10,426 |
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
|
44,834 |
|
|
|
57,302
|
|
|
|
|
|
|
|
|
|
|
|
Funds:
|
|
|
|
|
|
|
|
|
|
Alternative investments
(a)
|
|
|
67,600 |
|
|
|
34,705
|
|
|
Debt (a)
|
|
|
67,134 |
|
|
|
82,889
|
|
|
Equity (a)
|
|
|
197,787 |
|
|
|
228,209
|
|
|
Private
equity
|
|
|
100,219 |
|
|
|
114,470 |
|
|
|
|
|
|
|
|
|
|
|
|
|
432,740 |
|
|
|
460,273 |
|
|
|
|
|
|
|
|
|
|
|
Equity method
|
|
|
8,917 |
|
|
|
7,776 |
|
|
|
|
|
|
|
|
|
|
|
Total
investments
|
|
|
541,911 |
|
|
|
620,352 |
|
|
Less:
|
|
|
|
|
|
|
|
|
|
Interest-bearing
deposits
|
|
|
54,885 |
|
|
|
84,575 |
|
|
Equity method
|
|
|
8,917 |
|
|
|
7,776 |
|
|
|
|
|
|
|
|
|
|
|
Investments, at fair
value
|
|
$ |
478,109 |
|
|
$ |
528,001 |
|
|
|
|
|
|
|
|
|
|
|
Securities sold, not yet
purchased, at fair value (included in “other
liabilities”)
|
|
$ |
3,239 |
|
|
$ |
9,290 |
|
|
|
|
|
|
|
|
|
|
| (a) |
Interests in alternative
investment funds, debt funds and equity funds include investments
with fair values of $10,996, $31,598 and $156,081, respectively, at
December 31, 2015 and $8,321, $42,070 and $162,798, respectively,
at December 31, 2014, held in order to satisfy the Company’s
liability upon vesting of previously granted LFI and other similar
deferred compensation arrangements. LFI represent grants by the
Company to eligible employees of actual or notional interests in a
number of Lazard-managed funds, subject to service-based vesting
conditions (see Notes 7 and 14). |
|
| Schedule of Trading Securities Net Unrealized Investment Gains and Losses |
During the
years ended December 31, 2015, 2014 and 2013, the Company
reported in “revenue-other” on its consolidated
statements of operations net unrealized investment gains and losses
pertaining to “trading” securities still held as of the
reporting date as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Year Ended
December 31, |
|
| |
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
Net unrealized investment
gains (losses)
|
|
$ |
(19,681 |
) |
|
$ |
(8,568) |
|
|
$ |
16,470 |
|
|