CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands		Sep. 30, 2018	Dec. 31, 2017
ASSETS
Cash and Cash Equivalents ($3,679 and $3,717)	[1]	$ 31,913	$ 63,414
Restricted Cash		1,026	1,017
Due from Broker ($576 and $1,485)	[1]	894	1,875
Advisory Fees Receivable		34,398	32,531
Investments ($3,623 and $3,927)1	[1]	58,170	21,737
Receivable from Related Parties		1,251	1,453
Other Receivables ($14 and $15)	[1]	196	132
Prepaid Expenses and Other Assets		906	990
Deferred Tax Asset		35,984	39,639
Property and Equipment, Net of Accumulated Depreciation of $3,804 and $3,063, respectively		5,631	6,259
TOTAL ASSETS		170,369	169,047
Liabilities:
Accounts Payable and Accrued Expenses ($16 and $14)	[1]	31,962	31,983
Due to Broker ($321 and $0)	[1]	608	144
Liability to Selling and Converting Shareholders		36,441	36,441
Deferred Compensation Liability		3,490	918
Other Liabilities ($150 and $0)	[1]	415	272
TOTAL LIABILITIES		72,916	69,758
Commitments and Contingencies (see Note 12)
Equity:
Preferred Stock (Par Value $0.01; 200,000,000 Shares Authorized; None Outstanding)		0	0
Additional Paid-In Capital		2,372	7,915
Retained Earnings		26,854	24,214
Accumulated Other Comprehensive Loss		18	(5)
Total Pzena Investment Management, Inc.'s Equity		29,417	32,304
Non-Controlling Interests		68,036	66,985
TOTAL EQUITY		97,453	99,289
TOTAL LIABILITIES AND EQUITY		170,369	169,047
Common Class A
Equity:
Common Stock		173	180
TOTAL EQUITY		173	180
Common Class B
Equity:
Common Stock		$ 0	$ 0

[1] Asset and liability amounts in parentheses represent the aggregated balances at September 30, 2018 and December 31, 2017 attributable to Pzena International Value Service (a series of Pzena Investment Management, LLC), Pzena Investment Management Special Situations, LLC, and Pzena U.S. Best Ideas (GP), LLC, which were variable interest entities as of September 30, 2018 and December 31, 2017, respectively. Aggregated balances of variable interest entities at September 30, 2018 also reflect Pzena Global Best Ideas (GP), LLC.