Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Disaggregation of Revenue

Revenue from advisory fees is disaggregated into categories based on the composition of the Company's client base and advisory fee structure for the three and nine months ended September 30, 2020 and 2019:

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
Revenue	2020			2019			2020			2019
	(in thousands)
Separately Managed Accounts
Asset-Based Fees	$	18,457		$	18,548		$	53,891		$	55,959
Total Separately Managed Fees		18,457			18,548			53,891			55,959
Sub-Advised Accounts
Asset-Based Fees	$	12,884		$	14,777		$	37,880		$	44,938
Decrease in Asset-Based Fees		(1,004	)		(468	)		(3,029	)		(1,271	)
Performance-Based Fees		—			342			—			1,048
Total Sub-Advised Fees		11,880			14,651			34,851			44,715
Pzena Funds
Asset-Based Fees	$	3,808		$	4,046		$	10,886		$	12,130
Expense Cap Reimbursements		(197	)		(180	)		(870	)		(486	)
Performance-Based Fees		—		—				—		—
Total Pzena Funds Fees		3,611			3,866			10,016			11,644
Total	$	33,948		$	37,065		$	98,758		$	112,318

Schedule of Cash and Cash Equivalents

The following table reconciles cash, cash equivalents, and restricted cash per the consolidated statements of cash flows to the consolidated statements of financial condition.

	September 30, 2020		June 30, 2020		December 31, 2019		September 30, 2019		June 30, 2019		December 31, 2018
	(in thousands)
Cash and Cash Equivalents	$	49,235	$	33,131	$	52,480	$	35,685	$	33,783	$	38,099
Restricted Cash		1,047		1,043		1,036		1,033		1,031		1,028
Total	$	50,282	$	34,174	$	53,516	$	36,718	$	34,814	$	39,127

Schedule of Restricted Cash

The following table reconciles cash, cash equivalents, and restricted cash per the consolidated statements of cash flows to the consolidated statements of financial condition.

	September 30, 2020		June 30, 2020		December 31, 2019		September 30, 2019		June 30, 2019		December 31, 2018
	(in thousands)
Cash and Cash Equivalents	$	49,235	$	33,131	$	52,480	$	35,685	$	33,783	$	38,099
Restricted Cash		1,047		1,043		1,036		1,033		1,031		1,028
Total	$	50,282	$	34,174	$	53,516	$	36,718	$	34,814	$	39,127