Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 208

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part II, Item 8
Chunk 208
---
 $– $– $– $4,442 Nine Months Ended September 30, 2024BeginningBalanceNet UnrealizedGains/LossesIncluded InEarningsPurchases/IssuancesSales/SettlementsForeignCurrencyTranslationAdjustmentsEndingBalanceAssets:Investments:Equities$493 $46 $109 $– $2 $650 Private equity funds273 – – – 3 276 Total Level 3 assets$766 $46 $109 $– $5 $926 Liabilities:Contingent consideration   liability (a)$6,583 $159 $– $(2,300)$– $4,442 Total Level 3 liabilities$6,583 $159 $– $(2,300)$– $4,442 _________________________________

22

LAZARD, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS-(Continued)(UNAUDITED)(dollars in thousands, except for per share data, unless otherwise noted)

(a)For the nine month periods ended September 30, 2025 and 2024, settlements represent aggregate cash and noncash settlement of contingent consideration after the acquisition date.  The following tables present, at September 30, 2025 and December 31, 2024, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:September 30, 2025Investments RedeemableNAVUnfundedCommitments% ofNAVNotRedeemableRedemptionFrequencyRedemptionNotice PeriodAlternative investment funds:Hedge funds$43,137 $– NA(a)<30-60 daysOther39 – NA(b)<30-90 daysDebt funds3 – NA(c)<30-30 daysEquity funds61 – NA(d)<30-30 daysPrivate equity funds:Equity growth47,528 5,954 (e)100%(f)NANATotal$90,768 $5,954 ___________________________________(a)monthly (100%) (b)daily (100%) (c)daily (100%)(d)monthly (100%)(e)Unfunded commitments to private equity investments consolidated but not owned by Lazard of $19,894 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.(f