Milbank LLP advised Pzena Investment Management, LLC in the successful completion of its going-private transaction. Effective October 31, 2022, Pzena Investment Management is operating as a privately-held company owned by the existing partners of Pzena Investment Management, LLC. As a result of the transaction, former Class A stockholders of Pzena Investment Management, Inc. received $9.60 per share in cash for each Class A share owned immediately before the closing of the transaction. The all-cash transaction implied an enterprise value for Pzena Investment Management of approximately $795 million. The Milbank deal team is led by Global Corporate partner Scott Golenbock. The team also included Global Corporate special counsel Evelyn Liristis and associates Alexander Shapos, Frank Pensabene, and Bobby Sommers, Global Capital Markets partner Antonio Diaz-Albertini and associates Christina Chaplygina and Bailey Miller, Tax partner Russell Kestenbaum and associate Archan Hazra, Executive Compensation partner Mike Shah and special counsel James Beebe, and Alternative Investments partner Catherine Leef Martin.