market risk management 2013 equity and other investment risk equity investment risk is the risk of potential losses associated with investing in both private and public equity markets . pnc invests primarily in private equity markets . in addition to extending credit , taking deposits , and underwriting and trading financial instruments , we make and manage direct investments in a variety of transactions , including management buyouts , recapitalizations , and growth financings in a variety of industries . we also have investments in affiliated and non- affiliated funds that make similar investments in private equity and in debt and equity-oriented hedge funds . the economic and/or book value of these investments and other assets such as loan servicing rights are directly affected by changes in market factors . the primary risk measurement for equity and other investments is economic capital . economic capital is a common measure of risk for credit , market and operational risk . it is an estimate of the potential value depreciation over a one year horizon commensurate with solvency expectations of an institution rated single-a by the credit rating agencies . given the illiquid nature of many of these types of investments , it can be a challenge to determine their fair values . see note 9 fair value in the notes to consolidated financial statements in item 8 of this report for additional information . various pnc business units manage our equity and other investment activities . our businesses are responsible for making investment decisions within the approved policy limits and associated guidelines . a summary of our equity investments follows : table 55 : equity investments summary in millions december 31 december 31 .
in these equity investment balances , what is the percent of unfunded commitments at december 31 , 2012?
blackrock pnc owned approximately 36 million common stock equivalent shares of blackrock equity at december 31 , 2013 , accounted for under the equity method . the primary risk measurement , similar to other equity investments , is economic capital . the business segments review section of this item 7 includes additional information about blackrock . tax credit investments included in our equity investments are tax credit investments which are accounted for under the equity method . these investments , as well as equity investments held by consolidated partnerships , totaled $ 2.7 billion at december 31 , 2013 and $ 3.0 billion at december 31 , 2012 . these equity investment balances include unfunded commitments totaling $ 802 million and $ 685 million at december 31 , 2013 and december 31 , 2012 , respectively . these unfunded commitments are included in other liabilities on our consolidated balance sheet . note 3 loan sale and servicing activities and variable interest entities in the notes to consolidated financial statements in item 8 of this report has further information on tax credit investments . see also the critical accounting estimates and judgments section of this item 7 regarding asu 2014-01 and our intention to early adopt this guidance in the first quarter of 2014 . private equity the private equity portfolio is an illiquid portfolio comprised of mezzanine and equity investments that vary by industry , stage and type of investment . private equity investments carried at estimated fair value totaled $ 1.7 billion at december 31 , 2013 and $ 1.8 billion at december 31 , 2012 . as of december 31 , 2013 , $ 1.1 billion was invested directly in a variety of companies and $ .6 billion was invested indirectly through various private equity funds . included in direct investments are investment activities of two private equity funds that are consolidated for financial reporting purposes . the noncontrolling interests of these funds totaled $ 236 million as of december 31 , 2013 . the interests held in indirect private equity funds are not redeemable , but pnc may receive distributions over the life of the partnership from liquidation of the underlying investments . see item 1 business 2013 supervision and regulation and item 1a risk factors of this report for discussion of the potential impacts of the volcker rule provisions of dodd-frank on our interests in and sponsorship of private funds covered by the volcker our unfunded commitments related to private equity totaled $ 164 million at december 31 , 2013 compared with $ 182 million at december 31 , 2012 . during 2013 , we sold 4 million of visa class b common shares , in addition to the 9 million shares sold in 2012 , and entered into swap agreements with the purchaser of the shares . see note 9 fair value and note 17 financial derivatives in the notes to consolidated financial statements in item 8 of this report for additional information . at december 31 , 2013 , our investment in visa class b common shares totaled approximately 10 million shares and was recorded at $ 158 million . based on the december 31 , 2013 closing price of $ 222.68 for the visa class a common shares , the fair value of our total investment was approximately $ 971 million at the 94 the pnc financial services group , inc . 2013 form 10-k .