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Guru Richard Pzena’s Firm Filed IPO

June 14, 2007 | About:

Guru Richard Pzena’s firm, Pzena Investment Management, Inc. filed for a $150 million IPO, according to a filing to SEC. As of March 31, 2007, the firm manages $28.5 billion, growing from $3.1 billion at Dec. 31, 2002.

Richard Pzena has had outstanding investment performances. During the past 11 years, he has averaged more than 16% a year, outperforming both S&P500 and Russell 1000 Value indices by wide margins. The road was never smooth for these outstanding returns. During the go-go years of 1990’s, his performance trailed the indices. He lost quite a number of clients back then, according to a speech given by Joel Greenblatt.

After the bubble burst, Richard Pzena has achieved great performances. The asset under management at his firm has been growing at 69% a year. It does not take long to grow from $3.1 billion to $28.5 billion at 69% a year. It is time for an IPO.

There will be two classes of shares, Class A and Class B. Class A will be listed at NYSE with symbol of “PZN”. Each share of Class B common stock will entitle its holder to five votes instead of one with Class A shares. The total IPO size is expected to be around $150 million.

To read the IPO filing, click here: [www.sec.gov]


Rating: 2.1/5 (14 votes)

Comments

kfh227
Kfh227 - 9 years ago    Report SPAM
I like some of his holdings. And even TJX! I love that stock. I'm actually pondering an investment. I'll do the wait and see thing since it would require a change in investment philosophy.
jaumepared
Jaumepared - 9 years ago    Report SPAM
Rich is a genius. He has done it again... See Bernstein record for previous genius. Now that alue is underperforming....
hameed
Hameed - 9 years ago    Report SPAM
I cannot find this stock ticker symbol PZN on google finance. What am I missing here?!?
pitbull4value
Pitbull4value - 9 years ago    Report SPAM
> I cannot find this stock ticker symbol PZN on

> google finance. What am I missing here?!?

it's not traded yet. they're still in the S-1 process.

Please leave your comment:


GuruFocus has detected 4 Warning Signs with Pzena Investment Management Inc $pzn.
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