The Company has interests in 151 partnership or joint venture entities. The limited liability companies and limited partnerships in which the Company is the general partner are generally engaged directly or indirectly in the acquisition, development, operation and ownership of real estate. The accounting principles of these entities are substantially the same as those of the Company. Additionally, the Company has direct investments in several funds, including certain Bridge-sponsored funds. The Company’s investments are summarized below (in thousands):

The Company recognized investment income of $75.2 million and $26.0 million for the three months ended March 31, 2022 and 2021, respectively, of which $74.8 million and $20.3 million, respectively, related to accrued performance allocations recognized under the equity method.

Of the total accrued performance allocations balance as of March 31, 2022 and December 31, 2021, $50.9 million and $41.0 million, respectively, were payable to affiliates, of which $50.3 million and $41.0 million, respectively, were included in accrued performance allocations compensation in the condensed consolidated balance sheets as of the periods then ended and $0.6 million was included in accounts payable and accrued expenses as of March 31, 2022.

The Company evaluates each of its equity method investments, excluding Accrued Performance Allocations, to determine if any were significant as defined by the SEC. As of March 31, 2022 and December 31, 2021, no individual equity method investment held by the Company met the significance criteria. As a result, the Company is not required to provide separate financial statements for any of its equity method investments.

Fair value of the investments is reported on a three-month lag from the fund financial statements due to timing of the information provided by the funds and third-party entities unless information is available on a more-timely basis.