CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
ASSETS
Cash and Cash Equivalents	$ 31,890	$ 35,083
Restricted Cash.	1,030	1,030
Due from Broker	1,975	457
Advisory Fees Receivable	14,430	14,717
Investments, at Fair Value	4,599	4,919
Receivable from Related Parties	101	66
Other Receivables.	116	54
Prepaid Expenses and Other Assets	569	688
Deferred Tax Asset, Net of Valuation Allowance of $60,427 and $61,050, respectively	8,278	8,835
Property and Equipment, Net of Accumulated Depreciation of $2,593 and $2,516, respectively	807	829
TOTAL ASSETS	63,795	66,678
Liabilities:
Accounts Payable and Accrued Expenses	11,526	6,062
Due to Broker	1,415	0
Liability to Selling and Converting Shareholders.	9,783	11,218
Lease Liability	1,488	1,795
Deferred Compensation Liability	620	1,173
Other Liabilities	224	206
TOTAL LIABILITIES	25,056	20,454
Equity:
Preferred Stock (Par Value $0.01; 200,000,000 Shares Authorized; None Outstanding)	0	0
Additional Paid-In Capital	11,999	12,000
Retained Earnings	1,127	1,832
Total Pzena Investment Mangement, Inc.'s Equity	13,231	13,937
Non-Controlling Interests	25,508	32,287
TOTAL EQUITY	38,739	46,224
TOTAL LIABILITIES AND EQUITY	63,795	66,678
Class A [Member]
Equity:
Common Stock	105	105
Class B [Member]
Equity:
Common Stock	$ 0	$ 0