Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 250

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part II, Item 8
Chunk 250
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,094 (2,400)(306)(409)(394)46,111 Other7,959 320 (492)(172)361 (15)8,133 Total$250,432 $8,963 $(15,562)$(6,599)$2,532 $(1,695)$244,670 

Six Months Ended June 30, 2024AUMBeginningBalanceInflows Outflows NetFlowsMarket ValueAppreciation/(Depreciation)ForeignExchangeAppreciation/(Depreciation)AUMEndingBalance($ in millions)Equity$190,138 $10,576 $(23,155)$(12,579)$16,762 $(3,895)$190,426 Fixed Income48,107 3,876 (3,971)(95)(608)(1,293)46,111 Other8,406 595 (1,150)(555)349 (67)8,133 Total$246,651 $15,047 $(28,276)$(13,229)$16,503 $(5,255)$244,670 

58

Average AUM for the three month and six month periods ended June 30, 2025 and 2024 for each significant asset class is set forth below. Average AUM generally represents the average of the monthly ending AUM balances for the period.

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024($ in millions)Average AUM by Asset Class:Equity$183,550 $190,610 $180,847 $191,114 Fixed Income46,045 46,576 45,019 46,941 Alternative Investments3,431 3,203 3,241 3,076 Private Wealth Alternative Investments3,099 2,789 3,102 2,856 Private Equity1,505 1,492 1,506 1,509 Cash Management922 632 905 630 Total Average AUM$238,552 $245,302 $234,620 $246,126 

The following table summarizes the adjusted operating results attributable to the Asset Management segment:

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024($ in thousands)Net revenue - U.S. GAAP basis$292,478 $