UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUE	$ 18,339	$ 22,371	$ 38,107	$ 44,159
EXPENSES
Compensation and Benefits Expense	8,012	8,260	16,185	16,648
General and Administrative Expense	1,916	2,056	3,619	4,003
TOTAL OPERATING EXPENSES	9,928	10,316	19,804	20,651
Operating Income	8,411	12,055	18,303	23,508
OTHER INCOME/(EXPENSE)
Interest Income	41	44	95	72
Interest Expense	0	0	(26)	0
Dividend Income.	34	60	58	71
Net Realized and Unrealized Gain/(Loss) from Investments	(189)	186	666	441
Change in Liability to Selling and Converting Shareholders	315	(2,140)	(658)	(2,257)
Other Income/(Expense)	(72)	(121)	33	(171)
Total Other Income/(Expense)..	129	(1,971)	168	(1,844)
Income Before Income Taxes	8,540	10,084	18,471	21,664
Income Tax Expense/(Benefit)	1,534	(516)	1,780	67
Net Income	7,006	10,600	16,691	21,597
Less: Net Income Attributable to Non-Controlling Interests	6,392	9,741	15,070	19,081
Net Income Attributable to Pzena Investment Management, Inc	614	859	1,621	2,516
Net Income for Basic Earnings per Share	614	859	1,621	2,516
Basic Earnings per Share (in dollars per share)	$ 0.06	$ 0.09	$ 0.15	$ 0.26
Basic Weighted Average Shares Outstanding (in shares)	10,565,406	9,904,187	10,570,247	9,646,298
Net Income for Diluted Earnings per Share	$ 614	$ 859	$ 10,032	$ 13,390
Diluted Earnings per Share (in dollars per share)	$ 0.06	$ 0.09	$ 0.15	$ 0.21
Diluted Weighted Average Shares Outstanding (in shares)	10,565,406	9,904,187	65,395,327	65,070,712
Cash Dividends per Share of Class A Common Stock (in dollars per share)	$ 0.03	$ 0.03	$ 0.22	$ 0.06