Company: LAZ
Filing Date: 2025-10-27
Form Type: 10-Q
Source: 0001311370-25-000052
Chunk: 120

Company: Lazard, Inc.
Filing Date: 2025-10-27
Form: 10-Q
Item: Part I, Item 1
Chunk 120
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reciation)AUMEndingBalance($ in millions)Equity$174,938 $39,577 $(35,785)$3,792 $22,352 $7,428 $208,510 Fixed Income43,286 7,753 (10,078)(2,325)2,032 4,193 47,186 Other8,097 2,002 (1,876)126 373 245 8,841 Total$226,321 $49,332 $(47,739)$1,593 $24,757 $11,866 $264,537 

For the nine months ended September 30, 2025, net flows were primarily driven by the Global, Multi-Regional  and Emerging Markets Equity platforms and the Emerging Markets Fixed Income platform.

Three Months Ended September 30, 2024AUMBeginningBalanceInflows Outflows NetFlowsMarket ValueAppreciation/(Depreciation)ForeignExchangeAppreciation/(Depreciation)AUMEndingBalance($ in millions)Equity$190,426 $5,971 $(16,857)$(10,886)$7,651 $4,341 $191,532 Fixed Income46,111 1,876 (3,240)(1,364)1,662 1,524 47,933 Other8,133 970 (1,099)(129)69 119 8,192 Total$244,670 $8,817 $(21,196)$(12,379)$9,382 $5,984 $247,657 

61

Nine Months Ended September 30, 2024AUMBeginningBalanceInflows Outflows NetFlowsMarket ValueAppreciation/(Depreciation)ForeignExchangeAppreciation/(Depreciation)AUMEndingBalance($ in millions)Equity$190,138 $16,547 $(40,012)$(23,465)$24,413 $446 $191,532 Fixed Income48,107 5,752 (7,211)(1,459)1,054 231 47,933 Other8,406 1,565 (2,249)(684)418 52 8,192 Total$246,651 $23,864 $(49,472)$(25,608)$25,