Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 209

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part II, Item 8
Chunk 209
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)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%) 

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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.

7.    DERIVATIVES

The tables below present the fair value of the Company’s derivative instruments reported within “other assets” and “other liabilities” and the fair value of the Company’s derivative liabilities relating to its obligations pertaining to LFI and other similar deferred compensation arrangements reported within “accrued compensation and benefits” (see Note 13) on the accompanying condensed consolidated statements of financial condition as of September 30, 2025 and December 31, 2024. Notional amounts provide an indication of the volume of the Company's derivative activity.Derivative assets and liabilities, as well as the related cash collateral from the same counterparty, have been netted on the condensed consolidated statements of financial condition where the Company has a right to set off under an enforceable master netting agreement. In addition to the cash collateral received and transferred that is presented on a net basis with derivative assets and liabilities, the Company receives and transfers additional securities and cash collateral. These amounts mitigate counterparty credit risk associated with the Company’s derivative instruments, but are not eligible for net presentation on