SEC-registered firm
Registration does not mean the SEC approves or recommends the firm, and it does not imply a certain level of skill or training.
Pzena Investment Management LLC
New York, NY
CRD 106847
Firm filing updated March 30, 2026 ·
- $81.4BAssets
- 245Clients
- 55Advisory staff
- 245Accounts
Fees and minimums
All fee types on the form
- Percentage of assets under managementYes
- Performance-based feesYes
- Hourly chargesNo
- Fixed feesNo
- Subscription fees (for a newsletter or periodical)No
- CommissionsNo
- OtherNo
Who the firm serves
- Pooled vehicles53
- Corporations or other businesses45
- High net worth individuals36
- State or municipal government entities (including government pension plans)29
- Pension and profit sharing plans23
- and 6 more59
See the client table
| Client type | Approximate number of clients | Assets |
|---|---|---|
| Individuals (other than high net worth) | 8 | $3.4 million |
| High net worth individuals | 36 | $100.7 million |
| Investment companies | 19 | $24.4 billion |
| Pooled investment vehicles (other than investment companies and business development companies) | 53 | $35.8 billion |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 23 | $3.1 billion |
| Charitable organizations | 21 | $419.1 million |
| State or municipal government entities (including government pension plans) | 29 | $14.5 billion |
| Other investment advisors | 4 | $1.2 billion |
| Insurance companies | 6 | $572.6 million |
| Sovereign wealth funds and foreign official institutions | 1 | $199.0 million |
| Corporations or other businesses not listed above | 45 | $1.1 billion |
What the client labels mean
Here, "individuals" includes trusts, estates, and IRAs of individuals. A "high net worth individual" is a qualified client or qualified purchaser.
Services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
See all 4 services
- Portfolio management for businesses (other than small businesses) or institutional clients
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
Assets and accounts
- Regulatory assets$81.4 billion
- Accounts245
- Discretionary$80.6 billion · 244 accounts
- Non-discretionary$869.7 million · 1 accounts
People
- Employees164
- Advisory staff55
- Broker-dealer reps16
- Licensed insurance agents0
Registration details
- SEC-registered investment advisor. CRD 106847, SEC file 801-50838.
- Registered with the SEC as an investment advisor (status date on record: December 15, 1995).
Is Pzena Investment Management LLC a fiduciary?
Short answer: Pzena Investment Management LLC is registered with the SEC as an investment advisor.
More detail
Some of its people may also act in other roles, such as for a broker-dealer or as insurance agents, where different rules apply. Details below.
The SEC put it this way in 2019: 'Under federal law, an investment adviser is a fiduciary.'
Some of the firm's people may also act for a broker-dealer: 16 staff are broker-dealer representatives and the firm has a related broker-dealer. When someone acts for a broker-dealer, a different SEC standard, Regulation Best Interest, applies to their recommendations. Ask which role they are acting in.
The firm's Form CRS explains its services, fees and conflicts in plain language: Form CRS.
About this data
Informational only. Advisable Finance is not an investment advisor, does not give investment advice, and does not endorse any advisor.