Institutional Investors
Price Matters
Investing in companies we believe are priced
significantly below their long-term earnings potential
Digging Into Value
Researching deep beneath the surface of undervalued businesses to understand the range of outcomes
Team of Global Citizens
Expertise across a range of industry and cultural backgrounds
World Class Client Service
Dedicated to supporting clients as thought leaders on value investing
Why
Pzena
Our View on Value
“To be considered
among the premier value investors globally.”
We wrote most of that mission statement at our inception in 1996. The only change we made since then is to replace our US focus with one that is global.
Value investing works because investors tend to shy away from low prices.
The typical reasoning goes that low prices signal problems, and that those problems must be permanent if the stock price has substantially declined. But successful value investing overcomes this human tendency.
An unwavering discipline, intensive research, and an owner’s perspective on time horizon: these are our “secret” ingredients to long-term investment returns.
We built our team of research analysts slowly and carefully over the years. They have worked across sectors and roles, including management consulting, private equity, and operations. Their experience is consistent with our focus on understanding how businesses earn profits, and which businesses are likely to recover from temporary declines.
Our clients span the globe. They believe in our mission, a commitment we’ve held for more than two decades. We are excited for what the next decades will bring.
It’s hard to predict the future of investing, but there’s one thing we know with clarity. We will research businesses wherever valuation opportunities take us.
Our History
1995Richard Pzena, former Chief Research Officer, and Director of U.S. Equity Investments for Sanford C. Bernstein & Company, founded Pzena Investment Management
1996Began managing U.S. strategies
2004Started managing global strategies
2008Offered an emerging markets value strategy, among the few asset managers to invest in the region with a value approach
2010Expanded outside the U.S. with a Melbourne office
2014Pzena-branded mutual funds went to market
2015Opened a London office
2016Reached 100 employees
Our
Team
Investment professionals with a range of
industry and academic expertise
Karthik Annaamalai
Research Analyst
Daniel L. Babkes
Principal and Portfolio Manager
Rakesh Bordia
Principal and Portfolio Manager
Caroline Cai, CFA
Managing Principal, Chief Executive Officer, and Portfolio Manager
Andrew Chung, CFA
Principal and Senior Research Analyst
Jason Doctor, CFA
Principal and Portfolio Manager
Allison Fisch
Managing Principal, President, and Portfolio Manager
John J. Flynn
Principal and Portfolio Manager
Evan Fox, CFA
Principal and Portfolio Manager
Sara Fung
Research Analyst
John P. Goetz
Managing Principal, Co-Chief Investment Officer and Portfolio Manager
Eric Hagemann, CFA
Principal and Senior Research Analyst
Mark Heron
Portfolio Manager and Head of Leveraged Loans/High Yield Credit
TVR Murti
Principal and Portfolio Manager
Takashi Okumura
Principal and Portfolio Manager
Lawrence Paustian, CFA
Senior Research Analyst
Richard Pzena
Principal, Chairman, Co-Chief Investment Officer, and Portfolio Manager
Nicolas Raele
Senior Research Analyst
Matthew J. Ring
Principal, Director of Research and Portfolio Manager
John Rogers
Senior Research Analyst
Rachel Segal
Head of ESG
Sabah Shaikh
Senior Research Analyst
Brett Sharoni
Senior Research Analyst
Elena Shirokikh
Research Analyst
Benjamin Silver, CFA
Principal and Portfolio Manager
Clarke Smith
Principal and Senior Research Analyst
Akhil Subramanian
Principal and Portfolio Manager
Miklos C. Vasarhelyi
Principal and Portfolio Manager
Yinan Zhao, CFA
Principal and Senior Research Analyst
Jörg Ahlheid
Director of Business Development & Client Services
Martin Hanhauser, CIMA®
Principal and Director of Business Development & Client Services
V. Michel Hanigan
Principal and Director of Business Development & Client Services
Phil Hoffman
Principal and Head of Pzena UK & Middle East
Chad Irwin
Director of Business Development and Client Services
Adrian Jackson
Principal and Director of Business Development & Client Services
John Jardim
Director of Business Development and Client Services
William L. Lipsey
Principal and Vice Chairman
Valerie Mignone Arnold
Principal and Co-Head of North American Distribution
Tomoko Muraki
Director of Client Services & Product Strategy
Wayne A. Palladino
Principal and Director of Client & Portfolio Services
Dean Papas
Principal, Director of Business Development & Global Head of Consultant Relationships
Brett Peven, CFA
Principal and Head of Client & Portfolio Services
Kathryn Phillips
Principal and Director of Business Development & Client Services
Colin Pritchard
Regional Advisor Consultant
Peter Quinn
Director of National Accounts
Jeff Smith, CFA
Director of Business Development & Client Services
Anna Sperotto, CFA
Director of Business Development and Client Services
David Taylor
Principal and Director of Business Development & Client Services
Elizabeth W. Tyndale
Principal and Co-Head of North American Distribution
Sander van Ouwerkerk
Principal and Director of Business Development & Client Services
Paul Whymper-Williams
Director of Business Development & Client Services
Caroline Cai, CFA
Managing Principal, Chief Executive Officer, and Portfolio Manager
Jessica R. Doran, CPA
Managing Principal, Chief Financial Officer and Treasurer
Evan Fire
Managing Principal, Chief Operating Officer
Allison Fisch
Managing Principal, President, and Portfolio Manager
John P. Goetz
Managing Principal, Co-Chief Investment Officer and Portfolio Manager
William L. Lipsey
Principal and Vice Chairman
Richard Pzena
Principal, Chairman, Co-Chief Investment Officer, and Portfolio Manager
