Company: LAZ
Filing Date: 2025-07-25
Form Type: 10-Q
Source: 0001311370-25-000022
Chunk: 67

Company: Lazard, Inc.
Filing Date: 2025-07-25
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 and December 31, 2024, certain investments that are valued using NAV or its equivalent as a practical expedient in determining fair value:June 30, 2025Investments RedeemableNAVUnfundedCommitments% ofNAVNotRedeemableRedemptionFrequencyRedemptionNotice PeriodAlternative investment funds:Hedge funds$44,208 $– NA(a)<30-60 daysOther763 – NA(b)<30-90 daysDebt funds3 – NA(c)<30-30 daysEquity funds58 – NA(d)<30-30 daysPrivate equity funds:Equity growth49,801 5,961 (e)100%(f)NANATotal$94,833 $5,961 ___________________________________(a)monthly (100%) (b)daily (5%) and monthly (95%)(c)daily (100%)(d)monthly (100%)(e)Unfunded commitments to private equity investments consolidated but not owned by Lazard of $19,998 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.

22

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

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%) (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