.05 billion and $ 5.16 billion as of december 2015 and december 2014 , respectively , include commitments to invest in private equity , real estate and other assets directly and through funds that the firm raises and manages . of these amounts , $ 2.86 billion and $ 2.87 billion as of december 2015 and december 2014 , respectively , relate to commitments to invest in funds managed by the firm . if these commitments are called , they would be funded at market value on the date of investment