Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 69

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 69
---
 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)Distributions from each fund will be received as the underlying investments of the funds are liquidated.December 31, 2024Investments RedeemableNAVUnfundedCommitments% ofNAVNotRedeemableRedemptionFrequencyRedemptionNotice PeriodAlternative investment funds:Hedge funds$47,788 $– NA(a)30-60 daysOther679 – NA(b)<30-90 daysDebt funds3 – NA(c)<30 daysEquity funds50 – NA(d)<30-30 daysPrivate equity funds:Equity growth43,156 6,068 (e)100%(f)NANATotal$91,676 $6,068 ___________________________________(a)monthly (100%)(b)daily (5%) and monthly (95%)(c)daily (100%)(d)monthly (100%) 

23

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

(e)Unfunded commitments to private equity investments consolidated but not owned by Lazard of $20,205 are excluded. Such commitments are required to be funded by capital contributions from noncontrolling interest holders.(f)Distributions from each fund will be received as the underlying investments of the funds are liquidated