Direct private equity investments Direct private equity investments are the Company’s direct equity investments in companies that are not traded on any nationally recognized equity markets. Fund investments Fund investments are limited partnership or similar interests in private equity funds, private credit funds and hedge funds managed by unrelated third parties. Term loans Term loans represent the Company’s loan participation interest in an underwritten term loan facility. The Company has committed to a loan participation interest of 100 million and as of December 31, 2021 had funded  million of its commitment. This facility pays interest, has a -year maturity and is fully secured by a diversified pool of primarily private equity assets. Investments in $ther +entures, under Buity "ethod The table below shows the Company’s portfolio of investments in other ventures, under equity method: 2021 2020 t December 31, $Hnership  Carrying +alue $Hnership  Carrying +alue Tower "ill Companies (1) 2.0% - 2.0% 2, 2.0% - 2.0% 30,40 Top &ayer Re 0.0% 2,903 0.0% 26,98 Other 22.4% 46,90 2.0% 40,94 Total investments in other ventures, under equity method  98,068  98,33 (1) The Company has equity interests in Bluegrass Insurance Management, &&C, Tower "ill Claims Service, &&C, Tower "ill "oldings, Inc., Tower "ill Insurance Group, &&C, Tower "ill Insurance Managers, &&C, Tower "ill Re "oldings, Inc., Tower "ill Signature Insurance "oldings, Inc. , Tower "ill Risk Management &&C and Tomoka Re "oldings, Inc. (collectively, the VTower "ill CompaniesW). The table below shows the Company’s equity in earnings of other ventures, under equity method: .ear ended December 31, 2021 2020 2019 Top &ayer Re  8,286  9,9  8,801 Tower "ill Companies (2,03) 3,104 10,33 Other 6,096 4,49 4,086 Total equity in earnings of other ventures, under equity method  12,309  1,194  23,224 During 2021, the Company received 33.9 million of distributions from its investments in other ventures, under equity method (2020 R 30.0 million, 2019 R 36. million). Except for Top &ayer Re, which is recorded on a current quarter basis, the equity in earnings of the Company’s investments in other ventures are reported one quarter in arrears. F-28