Perella Weinberg Partners (PWP) 10-Q 3 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-39558
Entity Registrant Name	PERELLA WEINBERG PARTNERS
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	84-1770732
Entity Address, Address Line One	767 Fifth Avenue
Entity Address City Or Town	New York
Entity Address State Or Province	NY
Entity Address, Postal Zip Code	10153
City Area Code	212
Local Phone Number	287-3200
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	PWP
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001777835
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		53,410,156
Class B Common Stock, par value $0.0001 per share
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		40,795,985

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 156,694	$ 247,171
Restricted cash	2,925	2,931
Investments in short-term marketable debt securities	0	91,174
Accounts receivable, net of allowance	57,884	47,771
Fixed assets, net of accumulated depreciation and amortization	92,799	93,652
Intangible assets, net of accumulated amortization	17,547	19,192
Goodwill	34,383	34,383
Prepaid expenses and other assets	27,839	30,871
Right-of-use lease assets	141,505	143,935
Deferred tax assets, net	48,458	46,453
Total assets	583,589	761,108
Liabilities and Equity
Accrued compensation and benefits	34,367	233,927
Accounts payable, accrued expenses and other liabilities	59,778	52,106
Lease liabilities	176,263	175,901
Amount due pursuant to tax receivable agreement	34,160	30,928
Total liabilities	304,568	492,862
Commitments and contingencies
Preferred stock, value, issued	0	0
Additional paid-in-capital	362,377	312,523
Retained earnings (accumulated deficit)	(95,980)	(54,650)
Accumulated other comprehensive income (loss)	(5,114)	(4,480)
Treasury stock, at cost (12,604,551 and 12,718,224 shares of Class A common stock at March 31, 2024 and December 31, 2023, respectively)	(99,383)	(100,747)
Total Perella Weinberg Partners equity	161,911	152,656
Non-controlling interests	117,110	115,590
Total equity	279,021	268,246
Total liabilities and equity	583,589	761,108
Related Party
Assets
Due from related parties	3,555	3,575
Class A common stock
Liabilities and Equity
Common stock value	7	6
Class B common stock
Liabilities and Equity
Common stock value	$ 4	$ 4

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration]	Related Party	Related Party
Preferred stock par or stated value per share (in Dollars per Share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in Shares)	100,000,000	100,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0
Class A common stock
Common stock par value (in Dollars per Share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in Shares)	1,500,000,000	1,500,000,000
Common stock, shares issued (in Shares)	65,991,492	57,361,073
Common stock shares outstanding (in Shares)	53,386,941	44,642,849
Treasury stock, shares (in Shares)	12,604,551	12,718,224
Class B common stock
Common stock par value (in Dollars per Share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in Shares)	600,000,000	600,000,000
Common stock, shares issued (in Shares)	40,795,985	41,589,339
Common stock shares outstanding (in Shares)	40,795,985	41,589,339

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues	$ 102,127	$ 131,426
Expenses
Compensation and benefits	68,590	69,963
Equity-based compensation	46,807	47,671
Total compensation and benefits	115,397	117,634
Professional fees	11,060	7,553
Technology and infrastructure	8,772	8,512
Rent and occupancy	6,277	7,414
Travel and related expenses	4,585	4,774
General, administrative and other expenses	4,519	5,394
Depreciation and amortization	5,080	2,835
Total expenses	155,690	154,116
Operating income (loss)	(53,563)	(22,690)
Non-operating income (expenses)
Total non-operating income (expenses)	2,657	556
Income (loss) before income taxes	(50,906)	(22,134)
Income tax expense (benefit)	19,094	5,286
Net income (loss)	(70,000)	(27,420)
Less: Net income (loss) attributable to non-controlling interests	(34,156)	(22,297)
Net income (loss) attributable to Perella Weinberg Partners	$ (35,844)	$ (5,123)
Net income (loss) per share attributable to Class A common shareholders
Basic (in Dollars per Share)	$ (0.73)	$ (0.12)
Diluted (in Dollars per Share)	$ (0.91)	$ (0.37)
Weighted-average shares of Class A common stock outstanding
Basic (in Shares)	49,200,283	42,317,827
Diluted (in Shares)	90,519,358	86,611,018
Related Party
Non-operating income (expenses)
Related party income	$ 0	$ 273
Other income (expense)	0	273
Nonrelated Party
Non-operating income (expenses)
Related party income	2,657	283
Other income (expense)	$ 2,657	$ 283

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (70,000)	$ (27,420)
Foreign currency translation gain (loss), net of tax	(1,190)	1,585
Comprehensive income (loss)	(71,190)	(25,835)
Less: Comprehensive income (loss) attributable to non-controlling interests	(34,712)	(21,498)
Comprehensive income (loss) attributable to Perella Weinberg Partners	$ (36,478)	$ (4,337)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Class A common stock	Class B common stock	Common Stock Class A common stock	Common Stock Class B common stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Non- Controlling Interests
Beginning balance (in shares) at Dec. 31, 2022				52,237,247	44,563,877
Beginning treasury stock balance (in shares) at Dec. 31, 2022						(10,492,286)
Beginning Balance at Dec. 31, 2022	$ 260,140			$ 5	$ 4	$ (80,067)	$ 242,129	$ (18,071)	$ (6,538)	$ 122,678
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(27,420)							(5,123)		(22,297)
Equity-based awards	48,266						27,932			20,334
Distributions to partners	(3,119)									(3,119)
Issuance of Class A common stock for vested PWP incentive plan awards (in shares)				1,250,162		99,057
Issuance of Class A common stock for vested PWP Incentive Plan Awards	0					$ 1,189	(1,189)
Withholding payments on vested PWP Incentive Plan Awards	(11,356)						(11,356)
Dividends declared ($0.07 per share of Class A common stock)	(4,756)						169	(4,925)
Foreign currency translation gain (loss), net of tax	1,585								786	799
Other	(31)						(14)			(17)
Exchange of PWP OpCo Units and corresponding Class B common stock for Class A common stock (in shares)				786,644	(785,862)
Exchange of PWP OpCo Units and corresponding Class B common stock for Class A common stock	457						457
Treasury stock purchase (in shares)						(1,457,304)
Treasury stock purchase	(14,754)					$ (14,754)
Change in ownership interests	0						2,678			(2,678)
Ending balance (in shares) at Mar. 31, 2023				54,274,053	43,778,015
Ending treasury stock balance (in shares) at Mar. 31, 2023						(11,850,533)
Ending Balance at Mar. 31, 2023	249,012			$ 5	$ 4	$ (93,632)	260,806	(28,119)	(5,752)	115,700
Beginning balance (in shares) at Dec. 31, 2023		44,642,849	41,589,339	57,361,073	41,589,339
Beginning treasury stock balance (in shares) at Dec. 31, 2023		(12,718,224)				(12,718,224)
Beginning Balance at Dec. 31, 2023	268,246			$ 6	$ 4	$ (100,747)	312,523	(54,650)	(4,480)	115,590
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(70,000)							(35,844)		(34,156)
Equity-based awards	47,313						33,371			13,942
Distributions to partners	(2,867)									(2,867)
Issuance of Class A common stock for vested PWP incentive plan awards (in shares)				2,086,273		113,673
Issuance of Class A common stock for vested PWP Incentive Plan Awards	0					$ 1,364	(1,143)	(221)
Withholding payments on vested PWP Incentive Plan Awards	(24,568)						(24,568)
Dividends declared ($0.07 per share of Class A common stock)	(5,115)						150	(5,265)
Foreign currency translation gain (loss), net of tax	(1,190)								(634)	(556)
Other	645						656	0		(11)
Issuance of Class A common stock in Public Offering (in shares)				5,750,000
Issuance of Class A common stock in Public Offering (in shares)	65,987			$ 1			65,986
Exchange of PWP OpCo Units and corresponding Class B common stock for Class A common stock (in shares)				794,146	(793,354)
Exchange of PWP OpCo Units and corresponding Class B common stock for Class A common stock	570						570
Treasury stock purchase (in shares)		0
Change in ownership interests	0						(25,168)			25,168
Ending balance (in shares) at Mar. 31, 2024		53,386,941	40,795,985	65,991,492	40,795,985
Ending treasury stock balance (in shares) at Mar. 31, 2024		(12,604,551)				(12,604,551)
Ending Balance at Mar. 31, 2024	$ 279,021			$ 7	$ 4	$ (99,383)	$ 362,377	$ (95,980)	$ (5,114)	$ 117,110

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Class A common stock
Dividend declared (in Dollars per Share)	$ 0.07	$ 0.07

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net income (loss)	$ (70,000)	$ (27,420)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity-based awards vesting expense	47,313	48,266
Depreciation and amortization	5,080	2,835
Foreign currency revaluation	(553)	508
Non-cash operating lease expense	2,658	3,549
Deferred taxes	2,408	470
Other	589	(81)
Decrease (increase) in operating assets:
Accounts receivable, net of allowance	(11,154)	22,812
Due from related parties	20	(21)
Prepaid expenses and other assets	2,889	(1,129)
Increase (decrease) in operating liabilities:
Accrued compensation and benefits	(198,971)	(180,594)
Accounts payable, accrued expenses and other liabilities	13,204	(3,885)
Lease liabilities	172	2,748
Net cash provided by (used in) operating activities	(206,345)	(131,942)
Cash flows from investing activities
Purchases of fixed assets	(8,461)	(18,332)
Purchases of investments in short-term marketable debt securities	0	(24,983)
Maturities of investments in short-term marketable debt securities	91,188	140,551
Other	0	488
Net cash provided by (used in) investing activities	82,727	97,724
Cash flows from financing activities
Proceeds from issuance of Class A common stock in public offering, net of underwriting discount and offering costs	65,986	0
Distributions to partners	(2,867)	(3,119)
Dividends paid on Class A and Class B common stock	(4,758)	(3,529)
Withholding payments for vested PWP Incentive Plan Awards	(24,568)	(11,356)
Treasury stock purchases	0	(14,754)
Payments pursuant to tax receivable agreement	0	(472)
Net cash provided by (used in) financing activities	33,793	(33,230)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(658)	863
Net increase (decrease) in cash, cash equivalents and restricted cash	(90,483)	(66,585)
Cash, cash equivalents and restricted cash, beginning of period	250,102	174,166
Cash, cash equivalents and restricted cash, end of period	159,619	107,581
Supplemental disclosure of non-cash activities
Lease liabilities arising from obtaining right-of-use lease assets	560	177
Accrued capital expenditures	947	6,537
Accrued dividends and dividend equivalent units on unvested PWP Incentive Plan Awards	2,123	1,906
Deferred tax effect resulting from exchanges of PWP OpCo Units, net of amounts payable under tax receivable agreement	570	457
Supplemental disclosures of cash flow information
Cash paid for income taxes	$ 695	$ 1,652

Organization and Nature of Busi

Organization and Nature of Business	3 Months Ended
	Mar. 31, 2024
Organization and Nature of Business Abstract
Organization and Nature of Business	Note 1—Organization and Nature of Business Perella Weinberg Partners and its consolidated subsidiaries, including PWP Holdings LP (“PWP OpCo”) (collectively, “PWP” and the “Company”), is a global independent advisory firm that provides strategic and financial advice to a wide range of clients. The Company’s activities as an investment banking advisory firm constitute a single business segment that provides a range of advisory services, including advice related to strategic and financial decisions, mergers and acquisitions (“M&A”) execution, shareholder and defense advisory, financing and capital solutions advice with resources focused on restructuring and liability management, capital markets advisory, private capital placement, as well as specialized underwriting and research services primarily for the energy and related industries. On June 24, 2021, the Company consummated a business combination pursuant to a Business Combination Agreement that resulted in PWP OpCo becoming jointly-owned by Perella Weinberg Partners, PWP Professional Partners LP (together with its successors (including pursuant to the Division and Merger (each as defined below)) and assigns, as applicable, “Professional Partners”) and certain existing partners of PWP OpCo as part of an umbrella limited partnership C-corporation (Up-C) structure (the “Business Combination”). On December 31, 2023, as part of an internal reorganization, Professional Partners was divided into three partnerships pursuant to a plan of division (the “Division”), which, among other things, provided that (i) all of its limited partnership interests in PWP OpCo were allocated to one of the divided partnerships, PWP AdCo Professionals LP (“AdCo Professionals”), (ii) all of its shares of Class B-1 common stock of the Company were allocated to another divided partnership, PWP VoteCo Professionals LP (“VoteCo Professionals”) and (iii) PWP Professional Partners LP changed its name to PWP AmCo Professionals LP. On April 1, 2024, as part of this internal reorganization, AdCo Professionals merged with and into PWP OpCo (the “Merger”). Refer to Note 18—Subsequent Events for additional information on the Merger. The principal purpose of the internal reorganization was to simplify the structure for the partners in Professional Partners with respect to their indirect interests in PWP OpCo. There was no consideration exchanged in connection with the Division or the Merger, and neither the Division nor the Merger are expected to affect the respective rights or economic interests of the Company, PWP GP LLC (“PWP GP”), or any limited partner with respect to PWP OpCo. The operations of PWP OpCo are conducted through a wholly-owned subsidiary, Perella Weinberg Partners Group LP, and its subsidiaries which are consolidated in these financial statements. PWP GP is the general partner that controls PWP OpCo. The limited partner interests of PWP OpCo are held by the Company, an Investor Limited Partner (the “ILP”), and Professional Partners. The Company shareholders are entitled to receive a portion of PWP OpCo’s economics through their direct ownership interests in shares of Class A common stock of PWP. The non-controlling interest owners of PWP OpCo receive economics through ownership of PWP OpCo Class A partnership units (“PWP OpCo Units”). See Note 9—Stockholders’ Equity for additional information.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2—Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and all intercompany balances and transactions have been eliminated. These condensed consolidated financial statements and notes thereto are unaudited, and as permitted by the interim reporting rules and regulations set forth by the SEC, exclude certain financial information and note disclosures normally included in annual audited financial statements prepared in accordance with U.S. GAAP. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023, included in the Company’s Annual Report on Form 10-K. The condensed consolidated financial statements reflect all material adjustments of a normal recurring nature that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods. Consolidation The Company’s policy is to consolidate entities in which the Company has a controlling financial interest and variable interest entities where the Company is deemed to be the primary beneficiary. The Company is deemed to be the primary beneficiary of a variable interest entity (“VIE”) when it has both (i) the power to make the decisions that most significantly affect the economic performance of the VIE and (ii) the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE. PWP is the primary beneficiary of and consolidates PWP OpCo, a VIE. As of March 31, 2024 and December 31, 2023, the net assets of PWP OpCo were $274.2 million and $249.6 million, respectively. As of March 31, 2024 and December 31, 2023, the Company did not consolidate any VIEs other than PWP OpCo. Use of Estimates The preparation of the condensed consolidated financial statements and related disclosures in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates and the assumptions underlying these estimates are reviewed periodically, and the effects of revisions are reflected in the period in which they are determined to be necessary. In preparing the condensed consolidated financial statements, management makes certain estimates regarding the measurement of amounts due pursuant to the tax receivable agreement, measurement and timing of revenue recognition, assumptions used in the provision for income taxes, measurement of equity-based compensation, expected insurance reimbursements related to litigation costs, evaluation of goodwill and intangible assets, fair value measurement of financial instruments, and other matters that affect the reported amounts and disclosures of contingencies in the condensed consolidated financial statements. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include cash held at banks, including interest-bearing money market accounts, and any highly liquid investments with original maturities of three months or less from the date of purchase. Cash account balances often exceed federally insured limits. Restricted cash represents cash that is not readily available for general purpose cash needs. As of March 31, 2024 and December 31, 2023, the Company had no cash equivalents and had restricted cash of $2.9 million maintained as collateral for letters of credit related to certain office leases. The sum of Cash and cash equivalents and Restricted cash on the Condensed Consolidated Statements of Financial Condition corresponds to the total cash, cash equivalents, and restricted cash presented on the Condensed Consolidated Statements of Cash Flows. Foreign Currencies In the normal course of business, the Company and its subsidiaries may enter into transactions denominated in a non-functional currency. The Company recognized net foreign exchange gains (losses) arising from such transactions of $0.5 million and $(1.1) million during the three months ended March 31, 2024 and 2023, respectively, which are included in Other income (expense) on the Condensed Consolidated Statements of Operations. In addition, the Company consolidates its foreign subsidiaries that have non-U.S. dollar functional currencies. Non-U.S. dollar denominated assets and liabilities are translated to U.S. dollars at the exchange rate prevailing at the reporting date and profit and loss activity is generally translated using the average exchange rate throughout the period. Cumulative translation adjustments arising from the translation of non-U.S. dollar denominated operations are included as a component of Accumulated other comprehensive income (loss) on the Condensed Consolidated Statements of Changes in Equity. Recently Adopted Accounting Pronouncements There were no recently adopted accounting pronouncements that had a material effect on the Company’s condensed consolidated financial statements. Future Adoption of Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which amends the guidance in Accounting Standards Codification (“ASC” or the “Codification”) Topic 280, Segment Reporting, to require enhanced disclosures about reportable segments on an annual and interim basis. The amendments will require disclosure of significant segment expenses, identification of the chief operating decision maker (“CODM”), and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. ASU 2023-07 clarifies that an entity that has a single reportable segment is subject to all the disclosures required by the amendments and all existing segment disclosures in Topic 280. The amendments in ASU 2023-07 are effective for the Company beginning with the annual period ended December 31, 2024 and interim periods within the year ended December 31, 2025. The amendments are required to be applied retrospectively to all period presented and early adoption is permitted. The Company does not expect the adoption of ASU 2023-07 to have a material impact on the consolidated financial statements. In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which amends the guidance in ASC Topic 740, Income Taxes (“ASC 740”), to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments in ASU 2023-09 are effective for the Company beginning with the annual period ended December 31, 2025. The amendments are to be applied prospectively with both retrospective application and early adoption permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on the consolidated financial statements.

Revenue and Receivables from Co

Revenue and Receivables from Contracts with Customers	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue and Receivables from Contracts with Customers	Note 3—Revenue and Receivables from Contracts with Customers The following table disaggregates the Company’s revenue between over time and point in time recognition: Three Months Ended 2024 2023 Over time $ 101,005 $ 124,329 Point in time 1,122 7,097 Total revenues $ 102,127 $ 131,426 Reimbursable expenses billed to clients were $1.9 million and $1.2 million for the three months ended March 31, 2024 and 2023, respectively. Performance Obligations and Contract Balances As of March 31, 2024, the aggregate amount of the transaction price, as defined in the Codification, allocated to performance obligations yet to be satisfied was $1.4 million, and the Company generally expects to recognize this revenue within the next twelve months. Such amounts primarily relate to the Company’s performance obligations of providing transaction-related advisory services. The Company recognized revenue of $58.2 million and $94.2 million during the three months ended March 31, 2024 and 2023, respectively, related to performance obligations that were satisfied or partially satisfied in prior periods. These amounts were recognized upon the resolution of revenue constraints and uncertainties in the respective periods and were generally related to transaction-related advisory services. As of March 31, 2024 and December 31, 2023, the Company recorded $2.0 million and $0.9 million, respectively, for contract liabilities which are presented within Accounts payable, accrued expenses and other liabilities on the Condensed Consolidated Statements of Financial Condition. The Company recognized previously deferred revenue of $0.5 million and $2.9 million for the three months ended March 31, 2024 and 2023, respectively, which was primarily related to transaction-related advisory services that are recognized over time. Accounts Receivable and Allowance for Credit Losses As of March 31, 2024 and December 31, 2023, $5.3 million and $7.1 million, respectively, of accrued revenue was included in Accounts receivable, net of allowance on the Condensed Consolidated Statements of Financial Condition. These amounts have been recognized as revenue in accordance with the Company’s revenue recognition policies but remain unbilled at the end of the period. As of March 31, 2024, certain accounts receivable in the aggregate amount of $22.8 million were individually greater than 10% of the Company’s gross accounts receivable and were concentrated with two clients. Of that amount, all was subsequently received after March 31, 2024. As of December 31, 2023, certain accounts receivable in the aggregate amount of $17.3 million, were individually greater than 10% of the Company’s gross accounts receivable and were concentrated with two clients. Of that amount, all was subsequently received after year end. The allowance for credit losses activity for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended 2024 2023 Beginning balance $ 2,198 $ 1,143 Bad debt expense 587 162 Write-offs (71) (83) Foreign currency translation and other adjustments (29) 5 Ending balance $ 2,685 $ 1,227

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Note 4—Leases The Company leases office space and equipment under operating lease agreements. The following is information related to such operating leases: March 31, 2024 December 31, 2023 Weighted-average discount rate – operating leases 4.8% 4.7% Weighted-average remaining lease term – operating leases 14.1 years 14.3 years Three Months Ended 2024 2023 Operating lease cost $ 4,738 $ 5,384 Variable lease cost 900 1,350 Sublease income – operating leases — (159) Total net lease cost $ 5,638 $ 6,575 Net cash outflows on operating leases (1) $ 1,904 $ 2,391 __________________ (1) Presented net of lease incentives received, including landlord contributions to tenant improvements. As of March 31, 2024, the maturities of undiscounted operating lease liabilities of the Company are as follows: Years Ending: Operating Leases Remainder of 2024 $ 981 2025 18,652 2026 19,958 2027 19,126 2028 17,507 Thereafter 173,452 Total lease payments (1) 249,676 Less: Imputed Interest (73,413) Total lease liabilities $ 176,263 __________________ (1) Total future lease payments are presented net of expected lease incentives, including landlord contributions to tenant improvements.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Note 5—Intangible Assets The following table provides the detail of the Company’s intangible assets: March 31, 2024 Gross Amount Accumulated Amortization Net Customer relationships $ 47,400 $ (34,760) $ 12,640 Trade names and trademarks 18,400 (13,493) 4,907 Total $ 65,800 $ (48,253) $ 17,547 December 31, 2023 Gross Amount Accumulated Amortization Net Customer relationships $ 47,400 $ (33,575) $ 13,825 Trade names and trademarks 18,400 (13,033) 5,367 Total $ 65,800 $ (46,608) $ 19,192

Regulatory Requirements

Regulatory Requirements	3 Months Ended
	Mar. 31, 2024
Regulatory Requirements [Abstract]
Regulatory Requirements	Note 6—Regulatory Requirements The Company has a number of consolidated subsidiaries registered as broker-dealers with regulatory agencies in their respective countries. None of the SEC-regulated subsidiaries hold funds or securities for, or owe money or securities to, clients or carry accounts of or for clients, and as such are all exempt from the SEC Customer Protection Rule (Rule 15c3-3). As of March 31, 2024 and December 31, 2023, all regulated subsidiaries had capital in excess of their applicable minimum capital requirements. As a result of the minimum capital requirements and various regulations on these broker dealers, a portion of the capital of each subsidiary of the Company is restricted and may be unavailable to pay its creditors.

Fixed Assets

Fixed Assets	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Fixed Assets	Note 7—Fixed Assets Fixed assets are recorded at cost less accumulated depreciation and amortization and consist of the following as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Leasehold improvements $ 81,036 $ 79,719 Furniture and fixtures 12,613 12,442 Equipment 23,424 22,522 Software 5,896 5,756 Total 122,969 120,439 Less: Accumulated depreciation and amortization (30,170) (26,787) Fixed assets, net $ 92,799 $ 93,652 Depreciation expense related to fixed assets was $3.4 million and $1.1 million for the three months ended March 31, 2024 and 2023, respectively. Amortization expense related to software costs was immaterial for the three months ended March 31, 2024 and 2023.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 8—Income Taxes The following table summarizes the Company’s tax position for the periods presented: Three Months Ended 2024 2023 Income (loss) before income taxes $ (50,906) $ (22,134) Income tax expense (benefit) $ 19,094 $ 5,286 Effective income tax rate (37.5) % (23.9) % The Company’s overall effective tax rate in each of the periods presented above varies from the U.S. federal statutory rate primarily because (i) a portion of the Company’s income is allocated to non-controlling interests held in PWP OpCo in which the majority of any tax liability on such income is borne by the holders of such non-controlling interests and reported outside of the condensed consolidated financial statements and (ii) permanent differences related to compensation expenses. As of March 31, 2024 and December 31, 2023, the Company recorded a liability for unrecognized tax benefits of $3.6 million and $3.7 million, respectively, primarily related to potential double taxation at certain of its foreign subsidiaries. The Company does not expect there to be any material changes to uncertain tax positions within 12 months of the reporting date.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Stockholders' Equity	Note 9—Stockholders’ Equity Class A Common Stock Offering On March 1, 2024, the Company issued and sold 5,750,000 shares of Class A common stock at a price of $12.00 per share for net proceeds of $66.0 million after deducting underwriting discounts and offering costs. Share Repurchase Program On February 16, 2022, the Company’s Board of Directors initially approved a stock repurchase program and the authorized amount under such program was increased on February 8, 2023 such that the Company is authorized to repurchase up to $200.0 million of the Company’s Class A common stock. Since inception of the share repurchase program, 11,920,699 shares have been purchased at an average price per share of $7.65 through March 31, 2024. No purchases were made during the three months ended March 31, 2024. Non-Controlling Interests Non-controlling interests represents the ownership interests in PWP OpCo held by holders other than Perella Weinberg Partners. As of March 31, 2024, Professional Partners and the ILP collectively own 40,795,985 PWP OpCo Units which represent a 43.3% non-controlling ownership interest in PWP OpCo. These PWP OpCo Units are exchangeable into PWP Class A common stock on a one-for-one basis. Exchange Rights Holders of PWP OpCo Units (other than the Company) may exchange their units for (i) shares of Class A common stock on a one-for-one basis or (ii) cash from an offering of shares of Class A common stock (at the Company’s option). Concurrently with an exchange, such PWP OpCo Unitholder is required to surrender shares of Class B common stock for additional shares of Class A common stock or cash (at the Company’s option) at a conversion rate of 0.001. Working partners are restricted in their ability to exchange PWP OpCo Units for a period between three Refer to Note 18—Subsequent Events for information on the impact of the Merger on the settlement of exchanges and the accounting for non-controlling interests.

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Note 10—Debt As of March 31, 2024, and December 31, 2023, the Company had no outstanding debt. The Company has a revolving credit facility (the “Revolving Credit Facility”) through a credit agreement with Cadence Bank, N.A. (“Cadence Bank”), dated November 30, 2016 (as amended, the “Credit Agreement”), with an available line of credit of $50.0 million with up to $20.0 million of available incremental revolving commitments, and a maturity date of July 1, 2025. The Company incurred $1.8 million in issuance costs related to the Credit Agreement, which are being amortized as interest expense using the effective interest method over the life of the Revolving Credit Facility. The Company is also charged a quarterly commitment fee of 0.25% on any unused portion of the line of credit, which is recorded as interest expense. Interest expense related to the Revolving Credit Facility was immaterial during the three months ended March 31, 2024 and 2023 and is included within Other income (expense) on the Condensed Consolidated Statements of Operations. Unamortized debt issuance costs of $0.2 million as of both March 31, 2024 and December 31, 2023 are reported within Prepaid expenses and other assets on the Condensed Consolidated Statements of Financial Position.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Note 11—Equity-Based Compensation Further information regarding the Company’s equity-based compensation awards is described in Note 12—Equity-Based Compensation in the Notes to Consolidated Financial Statements in “Part II. Item 8. Financial Statements and Supplementary Data” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. PWP Omnibus Incentive Plan Awards Concurrent with the Business Combination, the Company adopted the Perella Weinberg Partners 2021 Omnibus Incentive Plan (the “PWP Incentive Plan”), which establishes a plan for the granting of various forms of incentive compensation awards, including restricted stock units (“RSUs”) and performance restricted stock units (“PSUs”), measured by reference to PWP Class A common stock (“PWP Incentive Plan Awards”). The PWP Incentive Plan established a reserve for a one-time grant of awards in connection with the Business Combination as well as a reserve for general purpose grants (the “General Share Reserve”). Grantees have rights to dividends declared during the vesting period and receive such dividends only upon vesting in the form of cash or dividend equivalent units. The Company uses newly issued shares of Class A common stock to satisfy vested awards, with the exception of shares issued out of treasury stock for vested awards (and related dividend equivalent units) held by French employees. Pursuant to the PWP Incentive Plan, the number of shares of Class A common stock reserved for issuance from the General Share Reserve increases each year. During the third quarter of 2021, in connection with the Business Combination, the Company granted awards (the “Business Combination Awards”) in the form of (a) RSUs that vest upon the achievement of service conditions (“Transaction RSUs”) and (b) PSUs that only vest upon the achievement of both service and market conditions, including certain long-term incentive awards granted to management (“Transaction PSUs”). The Company grants units from the General Share Reserve from time to time in the ordinary course of business in the form of (a) RSUs that vest upon the achievement of service conditions (“General RSUs”) and (b) PSUs that only vest upon the achievement of both service and market conditions (“General PSUs”). During the three months ended March 31, 2024 and 2023, the Company granted 6,125,742 and 6,793,265 General RSUs, respectively, from the General Share Reserve at a weighted average grant date fair value of $13.30 and $10.15 per award, respectively. Additionally, during the three months ended March 31, 2023, the Company granted 1,000,000 General PSUs from the General Share Reserve at a weighted average grant date fair value of $6.02 per award. No General PSUs were granted during the three months ended March 31, 2024. Legacy Awards and Professional Partners Awards Prior to the Business Combination, Professional Partners granted certain equity-based awards to partners providing services to PWP OpCo (the “Legacy Awards”). In connection with the Business Combination and a related internal reorganization of Professional Partners, existing Legacy Awards were canceled and replaced by converting each limited partner’s capital interests in Professional Partners attributable to PWP OpCo into original capital units (“OCUs”), value capital units (“VCUs”), and/or alignment capital units (“ACUs,” and collectively, the “Professional Partners Units”). The OCUs were fully vested upon recapitalization. The VCUs and ACUs (collectively, “Professional Partners Awards”) are held by current working partners and require services to be performed on behalf of PWP OpCo. The Professional Partners Awards are generally subject to a service-based graded vesting schedule over a three The Company accounted for the cancellation of the Legacy Awards and concurrent grant of Professional Partners Awards as a modification of the Legacy Awards. The $301.5 million incremental fair value of the Professional Partners Awards is being amortized over the requisite service period and was based on the closing price of PWP Class A common stock on the date of grant. The unrecognized cost associated with the Legacy Awards was amortized over its original vesting schedule and such awards were fully amortized as of September 30, 2023. The vesting of Professional Partners Awards does not dilute Perella Weinberg Partners shareholders relative to Professional Partners as Professional Partners’ interest in PWP OpCo does not change as a result of granting those equity awards to its working partners. All of the compensation expense and corresponding capital contribution associated with the Professional Partners Awards and Legacy Awards (prior to being fully amortized on September 30, 2023) is allocated to Non-controlling interests on the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Financial Condition. If any Professional Partners Award is forfeited, the value attributable to the forfeited Professional Partners Award will accrete to all limited partners in Professional Partners based on relative ownership at the time of forfeiture. The accretion of value upon forfeiture reflects a reallocation of value attributable to the forfeited Professional Partners Award and does not result in an incremental grant. The following table presents the expense related to equity-based awards that were recorded in Professional fees and components of Equity-based compensation included on the Condensed Consolidated Statements of Operations: Three Months Ended 2024 2023 Professional fees PWP Incentive Plan Awards $ 506 $ 595 Equity-based compensation PWP Incentive Plan Awards $ 32,865 $ 27,337 Legacy Awards (1) — 3,225 Professional Partners Awards (1) 13,942 17,109 Total Equity-based compensation $ 46,807 $ 47,671 Income tax benefit of equity-based awards $ 4,709 $ 3,559 __________________ (1) The vesting of these awards does not dilute Perella Weinberg Partners shareholders relative to Professional Partners. As such the related equity-based compensation expense is fully attributed to non-controlling interests. As of March 31, 2024, total unrecognized compensation expense related to all unvested equity-based awards was $305.2 million, which is expected to be recognized over a weighted average period of 2.1 years. Refer to Note 18—Subsequent Events for information on the impact of the Merger and the Vesting Acceleration, as defined therein, on the accounting for the Professional Partners Awards.

Other Compensation and Benefits

Other Compensation and Benefits	3 Months Ended
	Mar. 31, 2024
Compensation Related Costs [Abstract]
Other Compensation and Benefits	Note 12—Other Compensation and Benefits Compensation and benefits expense consists of salaries, bonuses (discretionary awards and guaranteed amounts), severance, as well as payroll and related taxes and benefits for the Company’s employees. In all instances, compensation expense is accrued over the requisite service period. Benefit Plans Certain employees participate in employee benefit plans, which consists of defined contribution plans including (i) profit-sharing plans qualified under Section 401(k) of the Internal Revenue Code, (ii) a U.K. pension scheme for U.K. employees and (iii) a German pension plan for employees in Germany. For the three months ended March 31, 2024 and 2023, expenses related to the Company’s employee benefit plans were $1.8 million and $1.7 million, respectively, and are included in Compensation and benefits on the Condensed Consolidated Statements of Operations. Business Realignment During the second quarter of 2023, the Company began a review of the business, which resulted in headcount reductions in order to improve compensation alignment and to provide greater flexibility to advance strategic opportunities (the “Business Realignment”). In conjunction with the Business Realignment and for the three months ended March 31, 2024, the Company incurred expenses related to separation and transition benefits of $1.8 million, and the acceleration of equity-based compensation amortization (net of forfeitures) of $1.5 million. Such amounts are presented in Compensation and benefits and Equity-based compensation on the Condensed Consolidated Statements of Operations, respectively. All of the expected Business Realignment costs have been incurred as of March 31, 2024. Activity within Accrued compensation and benefits on the Condensed Consolidated Statements of Financial Condition related to the Business Realignment was as follows: Balance at January 1, 2024 $ 12,525 Incurred expenses 3,249 Non-cash expenses (1,499) Payments (11,137) Balance at March 31, 2024 $ 3,138

Net Income (Loss) Per Share Att

Net Income (Loss) Per Share Attributable to Class A Common Shareholders	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share Attributable to Class A Common Shareholders	Note 13—Net Income (Loss) Per Share Attributable to Class A Common Shareholders The calculations of basic and diluted net income (loss) per share attributable to Class A common shareholders are presented below: Three Months Ended 2024 2023 Numerator: Net income (loss) attributable to Perella Weinberg Partners – basic $ (35,844) $ (5,123) Dilutive effect from assumed exchange of PWP OpCo Units, net of tax (46,334) (26,878) Net income (loss) attributable to Perella Weinberg Partners – diluted $ (82,178) $ (32,001) Denominator: Weighted average shares of Class A common stock outstanding – basic 49,200,283 42,317,827 Weighted average number of incremental shares from assumed exchange of PWP OpCo Units 41,319,075 44,293,191 Weighted average shares of Class A common stock outstanding – diluted 90,519,358 86,611,018 Net income (loss) per share attributable to Class A common shareholders Basic $ (0.73) $ (0.12) Diluted $ (0.91) $ (0.37) Basic and diluted net income (loss) per share attributable to Class B common shareholders has not been presented as these shares are entitled to an insignificant amount of economic participation. The Company uses the treasury stock method to determine the potential dilutive effect of unvested PWP Incentive Plan Awards and the if-converted method to determine the potential dilutive effect of exchanges of PWP OpCo Units into Class A common stock. The Company adjusts net income (loss) attributable to Class A common shareholders under both the treasury stock method and if-converted method for the reallocation of net income (loss) between Class A common shareholders and non-controlling interests that result upon the assumed issuance of dilutive shares of Class A common stock as if the issuance occurred as of the beginning of the applicable period. The following table presents the weighted average potentially dilutive shares that were excluded from the calculation of diluted net income (loss) per share under the treasury stock method or if-converted method, as applicable, because the effect of including such potentially dilutive shares was antidilutive for the period presented: Three Months Ended 2024 2023 PWP Incentive Plan Awards 5,278,079 1,727,070

Fair Value Measurements and Inv

Fair Value Measurements and Investments	3 Months Ended
	Mar. 31, 2024
Fair Value Measurements And Investments [Abstract]
Fair Value Measurements and Investments	Note 14—Fair Value Measurements and Investments Fair value is generally based on quoted prices, however if quoted market prices are not available, fair value is determined based on other relevant factors, including dealer price quotations, price activity for equivalent instruments and valuation pricing models. The Company established a fair value hierarchy which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of instrument, the characteristics specific to the instrument and the state of the marketplace (including the existence and transparency of transactions between market participants). Financial instruments with readily available, actively quoted prices or for which fair value can be measured from actively quoted prices in an orderly market will generally have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Financial instruments measured and reported at fair value are classified and disclosed in one of the following categories (from highest to lowest) based on inputs: Level 1—Unadjusted quoted prices are available in active markets for identical financial instruments as of the reporting date. Level 2—Pricing inputs are observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. Level 3—Pricing inputs are unobservable for the financial instruments and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which level within the fair value hierarchy is appropriate for any given investment is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the instrument. As of March 31, 2024 and December 31, 2023, the fair values of cash, restricted cash, accounts receivable, due from related parties, accounts payable and certain accrued liabilities approximate their carrying amounts due to the short-term nature of these items. Fair Value of Financial Instruments The following table summarizes the categorization and fair value estimate of the Company’s financial instruments that were measured on a recurring basis pursuant to the above fair value hierarchy levels as of December 31, 2023: December 31, 2023 Level 1 Level 2 Level 3 Total Financial asset U.S. Treasury securities $ 91,174 $ — $ — $ 91,174 The Company held no financial instruments subject to fair value measurement as of March 31, 2024. The Company had no transfers between fair value levels during the three months ended March 31, 2024 and 2023. As of December 31, 2023, the Company’s investment in U.S. Treasury securities is presented within Investments in short-term marketable debt securities on the Condensed Consolidated Statements of Financial Condition, and the aggregate cost basis of the investment was $89.3 million. These U.S. Treasury securities matured in January 2024. The Company had net realized and unrealized gains (losses) on these investments of $0.3 million and $0.4 million for the three months ended March 31, 2024 and 2023, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 15—Related Party Transactions PWP Capital Holdings LP On February 28, 2019, a reorganization of the existing investment banking advisory and asset management businesses of PWP Holdings LP was effected which resulted in the spin-off of its asset management business (the “Separation”). PWP Holdings LP was divided into (i) PWP OpCo, which holds the advisory business and (ii) PWP Capital Holdings LP (“Capital Holdings”), which holds the asset management business. In connection with the Separation, the Company entered into a transition services agreement (the “TSA”) with Capital Holdings under which the Company agreed to provide certain administrative services to Capital Holdings. The TSA was terminated as of January 1, 2024. The Company also subleased certain portions of its office space to Capital Holdings through October 2023. Income earned from Capital Holdings related to the TSA and the sublease is presented within Related party income on the Condensed Consolidated Statements of Operations. Amounts due from Capital Holdings are reflected as Due from related parties on the Condensed Consolidated Statements of Financial Condition as of December 31, 2023, with no amounts due as of March 31, 2024. Separately, Capital Holdings entered into an arrangement with certain employees of the Company, including members of management, related to services provided directly to Capital Holdings. With respect to services provided to Capital Holdings, the amounts paid and payable to such employees now and in the future are recognized by Capital Holdings. All compensation related to services these employees provide to the Company are included in Compensation and benefits on the Condensed Consolidated Statements of Operations. Tax Receivable Agreement In connection with the Business Combination, the Company entered into a tax receivable agreement with PWP OpCo, Professional Partners and ILPs that provides for payment of 85% of the amount of cash savings, if any, in U.S. federal, state and local and foreign income taxes that the Company is deemed to realize as a result of (a) each exchange of interests in PWP OpCo for cash or stock of the Company and certain other transactions and (b) payments made under the tax receivable agreement. As of March 31, 2024, the Company had an amount due of $34.2 million pursuant to the tax receivable agreement, which represents management’s best estimate of the amounts currently expected to be owed in connection with the tax receivable agreement for the Business Combination and subsequent exchanges made to date and is reported within Amount due pursuant to tax receivable agreement on the Condensed Consolidated Statements of Financial Condition. The Company expects to make the following payments with respect to the tax receivable agreement, which are exclusive of potential payments in respect of future exchanges and may differ significantly from actual payments made: Years Ending: Estimated Payments Under Tax Receivable Agreement Remainder of 2024 $ 1,105 2025 1,425 2026 1,839 2027 1,913 2028 1,952 Thereafter 25,926 Total payments $ 34,160 Partner Promissory Notes and Other Partner Loans The Company loaned money pursuant to promissory note agreements (the “Partner Promissory Notes”) to certain partners. The Partner Promissory Notes bear interest at a semi-annual rate equal to the Federal Mid-Term Rate. The Partner Promissory Notes are due on various dates or in the event a partner is terminated or leaves at will and are primarily secured by the partner’s equity interests in PWP OpCo or one of its affiliates. As the Partner Promissory Notes and associated interest receivable relate to equity transactions, they have been recognized as a reduction of equity on the Condensed Consolidated Statements of Financial Condition in the amounts of $2.1 million as of March 31, 2024 and December 31, 2023. In November 2021, PWP OpCo agreed to provide loans to certain partners. As of March 31, 2024 and December 31, 2023, $3.6 million and $3.5 million, respectively, of outstanding loans to certain partners and related interest receivable are recognized in Due from related parties on the Condensed Consolidated Statements of Financial Condition. Other Related Party Transactions The Company’s U.K. subsidiary, Perella Weinberg UK Limited, as well as Professional Partners and certain partners (including one partner who serves as a Company director and president) are party to a reimbursement agreement, pursuant to which such partners directed Professional Partners to pay distributions related to certain of their Professional Partners Awards first to a subsidiary of the Company, so that the subsidiary can make employment income tax payments on such distributions to the appropriate non-U.S. authorities.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16—Commitments and Contingencies Indemnifications The Company enters into certain contracts that contain a variety of indemnification provisions. The Company’s maximum exposure under these arrangements is unknown. As of March 31, 2024 and December 31, 2023, the Company expects no claims or losses pursuant to these contracts; therefore, no liability has been recorded related to these indemnification provisions. Legal Contingencies From time to time, the Company is named as a defendant in legal actions relating to transactions conducted in the ordinary course of business. Some of these matters may involve claims of substantial amounts. Although there can be no assurance of the outcome of such legal actions, in the opinion of management and, after consultation with external counsel, the Company believes it is neither probable nor reasonably possible that any current legal proceedings or claims would individually or in the aggregate have a material adverse effect on the consolidated financial statements of the Company as of March 31, 2024 and December 31, 2023 and for the three months ended March 31, 2024 and 2023. In 2015, the Company filed a complaint against three former partners and one former employee which alleges they entered into a scheme while at PWP to lift out the Company’s restructuring group to form a new competing firm that they were secretly forming in breach of their contractual and fiduciary duties. The complaint contains 14 causes of action and seeks declaratory relief as well as damages. Trial was set to commence on April 29, 2024. However, after an April 17, 2024 pre-trial conference, the trial was adjourned and the court has yet to provide new trial dates. During the three months ended March 31, 2024, the Company incurred $2.3 million in legal and professional fees, net of expected insurance reimbursement, related to this litigation, with an immaterial amount incurred during the three months ended March 31, 2023. These litigation costs are included in Professional fees on the Condensed Consolidated Statements of Operations.

Business Information

Business Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Business Information	Note 17—Business Information The Company’s activities of providing advisory services for M&A, private placements and financial advisory, as well as services for underwriting of securities offered for sale in public markets, and equity research constitute a single business segment. The Company is organized as one operating segment in order to maximize the value of advice to clients by drawing upon the diversified expertise and broad relationships of its senior professionals across the Company. The Company has a single operating segment and therefore a single reportable segment. For the three months ended March 31, 2024, revenues of $15.0 million related to one individual client accounted for more than 10% of aggregate revenue, while no individual client accounted for more than 10% of aggregate revenue for the three months ended March 31, 2023. Since the financial markets are global in nature, the Company generally manages its business based on the operating results of the Company taken as a whole, not by geographic region. The following tables set forth the geographical distribution of revenues and assets based on the location of the office that generates the revenues or holds the assets and therefore may not be indicative of the geography in which the Company’s clients are located: Three Months Ended 2024 2023 Revenues United States $ 82,689 $ 95,538 International 19,438 35,888 Total $ 102,127 $ 131,426 March 31, 2024 December 31, 2023 Assets United States $ 458,522 $ 569,332 International 125,067 191,776 Total $ 583,589 $ 761,108

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 18—Subsequent Events The Company has evaluated subsequent events through the issuance date of these condensed consolidated financial statements. AdCo Professionals Merger with PWP OpCo On April 1, 2024, as part of an internal reorganization, AdCo Professionals merged with and into PWP OpCo. As a result of the Merger, (i) the OCUs, VCUs and ACUs of AdCo Professionals were converted into an equivalent number of OCUs, VCUs and ACUs of PWP OpCo, (ii) the minimal net assets of AdCo Professionals became the net assets of PWP OpCo and (iii) PWP OpCo adopted an amended and restated limited partnership agreement that permits the Company to settle quarterly exchanges in cash or shares at the Company’s discretion. At the time of the Merger, the Company entered into vesting acceleration agreements with certain holders of partnership units of AdCo Professionals and VoteCo Professionals to accelerate vesting for VCUs and ACUs (the “Accelerated Units”) on a day determined by PWP GP between April 2, 2024 and May 16, 2024 (the “Vesting Acceleration”). Accelerated Units generally will be subject to a lock-up period that is identical to the lockup period applicable to such units prior to the Vesting Acceleration. The Company also provided each holder of ACUs the ability to convert a portion of such holder’s ACUs into cash on vesting in an aggregate amount up to such holder’s estimated tax liability, to the extent cash is available for such purpose. The principal purpose of the Vesting Acceleration is to facilitate the payment of taxes associated with ACU vesting to align with the treatment of restricted stock units of the Company. As of the issuance date of these condensed consolidated financial statements, the Vesting Acceleration has not occurred. As a result of the Merger, Non-controlling interests on our Condensed Consolidated Statements of Financial Condition will be prospectively reclassified to Redeemable non-controlling interests and recorded at the current redemption value, with changes in the current redemption value in future periods recorded to Additional paid-in capital. At the time of the Merger, certain ACUs and VCUs will be modified from equity-classified to liability-classified awards with changes in fair value generally recorded as incremental equity-based compensation expense through the date of the Vesting Acceleration. At a minimum, during the second quarter of 2024, the Company will record $116.5 million of equity-based compensation expense related to the unvested ACUs and VCUs, before taking into account potential forfeitures and changes in fair value of liability-classified awards. Dividends Declared On May 1, 2024, the Company’s Board of Directors declared a cash dividend of $0.07 per outstanding share of Class A common stock. This dividend will be paid on June 10, 2024 to Class A common stockholders of record on May 28, 2024. Holders of Class B common stock will also receive dividends equal to the amount of dividends declared on 0.001 shares of Class A common stock.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to Perella Weinberg Partners – basic	$ (35,844)	$ (5,123)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and all intercompany balances and transactions have been eliminated. These condensed consolidated financial statements and notes thereto are unaudited, and as permitted by the interim reporting rules and regulations set forth by the SEC, exclude certain financial information and note disclosures normally included in annual audited financial statements prepared in accordance with U.S. GAAP. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2023, included in the Company’s Annual Report on Form 10-K. The condensed consolidated financial statements reflect all material adjustments of a normal recurring nature that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods.
Consolidation	Consolidation
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements and related disclosures in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates and the assumptions underlying these estimates are reviewed periodically, and the effects of revisions are reflected in the period in which they are determined to be necessary. In preparing the condensed consolidated financial statements, management makes certain estimates regarding the measurement of amounts due pursuant to the tax receivable agreement, measurement and timing of revenue recognition, assumptions used in the provision for income taxes, measurement of equity-based compensation, expected insurance reimbursements related to litigation costs, evaluation of goodwill and intangible assets, fair value measurement of financial instruments, and other matters that affect the reported amounts and disclosures of contingencies in the condensed consolidated financial statements.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include cash held at banks, including interest-bearing money market accounts, and any highly liquid investments with original maturities of three months or less from the date of purchase. Cash account balances often exceed federally insured limits. Restricted cash represents cash that is not readily available for general purpose cash needs. As of March 31, 2024 and December 31, 2023, the Company had no cash equivalents and had restricted cash of $2.9 million maintained as collateral for letters of credit related to certain office leases. The sum of Cash and cash equivalents and Restricted cash on the Condensed Consolidated Statements of Financial Condition corresponds to the total cash, cash equivalents, and restricted cash presented on the Condensed Consolidated Statements of Cash Flows.
Foreign Currencies	Foreign Currencies In the normal course of business, the Company and its subsidiaries may enter into transactions denominated in a non-functional currency. The Company recognized net foreign exchange gains (losses) arising from such transactions of $0.5 million and $(1.1) million during the three months ended March 31, 2024 and 2023, respectively, which are included in Other income (expense) on the Condensed Consolidated Statements of Operations. In addition, the Company consolidates its foreign subsidiaries that have non-U.S. dollar functional currencies. Non-U.S. dollar denominated assets and liabilities are translated to U.S. dollars at the exchange rate prevailing at the reporting date and profit and loss activity is generally translated using the average exchange rate throughout the period. Cumulative translation adjustments arising from the translation of non-U.S. dollar denominated operations are included as a component of Accumulated other comprehensive income (loss) on the Condensed Consolidated Statements of Changes in Equity.
Recent Accounting Pronouncements and Future Adoption of Accounting Pronouncements	Recently Adopted Accounting Pronouncements There were no recently adopted accounting pronouncements that had a material effect on the Company’s condensed consolidated financial statements. Future Adoption of Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-07, Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which amends the guidance in Accounting Standards Codification (“ASC” or the “Codification”) Topic 280, Segment Reporting, to require enhanced disclosures about reportable segments on an annual and interim basis. The amendments will require disclosure of significant segment expenses, identification of the chief operating decision maker (“CODM”), and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. ASU 2023-07 clarifies that an entity that has a single reportable segment is subject to all the disclosures required by the amendments and all existing segment disclosures in Topic 280. The amendments in ASU 2023-07 are effective for the Company beginning with the annual period ended December 31, 2024 and interim periods within the year ended December 31, 2025. The amendments are required to be applied retrospectively to all period presented and early adoption is permitted. The Company does not expect the adoption of ASU 2023-07 to have a material impact on the consolidated financial statements. In December 2023, the FASB issued Accounting Standards Update 2023-09, Improvements to Income Tax Disclosures (“ASU 2023-09”), which amends the guidance in ASC Topic 740, Income Taxes (“ASC 740”), to improve the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The amendments in ASU 2023-09 are effective for the Company beginning with the annual period ended December 31, 2025. The amendments are to be applied prospectively with both retrospective application and early adoption permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on the consolidated financial statements.

Revenue and Receivables from _2

Revenue and Receivables from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table disaggregates the Company’s revenue between over time and point in time recognition: Three Months Ended 2024 2023 Over time $ 101,005 $ 124,329 Point in time 1,122 7,097 Total revenues $ 102,127 $ 131,426
Schedule of Allowance for Credit Losses	The allowance for credit losses activity for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended 2024 2023 Beginning balance $ 2,198 $ 1,143 Bad debt expense 587 162 Write-offs (71) (83) Foreign currency translation and other adjustments (29) 5 Ending balance $ 2,685 $ 1,227

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Summary of Operating Leases	The following is information related to such operating leases: March 31, 2024 December 31, 2023 Weighted-average discount rate – operating leases 4.8% 4.7% Weighted-average remaining lease term – operating leases 14.1 years 14.3 years Three Months Ended 2024 2023 Operating lease cost $ 4,738 $ 5,384 Variable lease cost 900 1,350 Sublease income – operating leases — (159) Total net lease cost $ 5,638 $ 6,575 Net cash outflows on operating leases (1) $ 1,904 $ 2,391 __________________ (1) Presented net of lease incentives received, including landlord contributions to tenant improvements.
Schedule of Operating Lease Maturities	As of March 31, 2024, the maturities of undiscounted operating lease liabilities of the Company are as follows: Years Ending: Operating Leases Remainder of 2024 $ 981 2025 18,652 2026 19,958 2027 19,126 2028 17,507 Thereafter 173,452 Total lease payments (1) 249,676 Less: Imputed Interest (73,413) Total lease liabilities $ 176,263 __________________ (1) Total future lease payments are presented net of expected lease incentives, including landlord contributions to tenant improvements.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Summary of Components of Gross and Net Intangible Asset	The following table provides the detail of the Company’s intangible assets: March 31, 2024 Gross Amount Accumulated Amortization Net Customer relationships $ 47,400 $ (34,760) $ 12,640 Trade names and trademarks 18,400 (13,493) 4,907 Total $ 65,800 $ (48,253) $ 17,547 December 31, 2023 Gross Amount Accumulated Amortization Net Customer relationships $ 47,400 $ (33,575) $ 13,825 Trade names and trademarks 18,400 (13,033) 5,367 Total $ 65,800 $ (46,608) $ 19,192

Fixed Assets (Tables)

Fixed Assets (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Fixed assets are recorded at cost less accumulated depreciation and amortization and consist of the following as of March 31, 2024 and December 31, 2023: March 31, 2024 December 31, 2023 Leasehold improvements $ 81,036 $ 79,719 Furniture and fixtures 12,613 12,442 Equipment 23,424 22,522 Software 5,896 5,756 Total 122,969 120,439 Less: Accumulated depreciation and amortization (30,170) (26,787) Fixed assets, net $ 92,799 $ 93,652

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Company's Tax Position	The following table summarizes the Company’s tax position for the periods presented: Three Months Ended 2024 2023 Income (loss) before income taxes $ (50,906) $ (22,134) Income tax expense (benefit) $ 19,094 $ 5,286 Effective income tax rate (37.5) % (23.9) %

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Expense Related to Awards	The following table presents the expense related to equity-based awards that were recorded in Professional fees and components of Equity-based compensation included on the Condensed Consolidated Statements of Operations: Three Months Ended 2024 2023 Professional fees PWP Incentive Plan Awards $ 506 $ 595 Equity-based compensation PWP Incentive Plan Awards $ 32,865 $ 27,337 Legacy Awards (1) — 3,225 Professional Partners Awards (1) 13,942 17,109 Total Equity-based compensation $ 46,807 $ 47,671 Income tax benefit of equity-based awards $ 4,709 $ 3,559 __________________ (1)

Compensation Related Costs, Gen

Compensation Related Costs, General (Tables)	3 Months Ended
	Mar. 31, 2024
Compensation Related Costs [Abstract]
Restructuring and Related Costs	Activity within Accrued compensation and benefits on the Condensed Consolidated Statements of Financial Condition related to the Business Realignment was as follows: Balance at January 1, 2024 $ 12,525 Incurred expenses 3,249 Non-cash expenses (1,499) Payments (11,137) Balance at March 31, 2024 $ 3,138

Net Income (Loss) Per Share A_2

Net Income (Loss) Per Share Attributable to Class A Common Shareholders (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share Attributable to Class A Common Shareholders	The calculations of basic and diluted net income (loss) per share attributable to Class A common shareholders are presented below: Three Months Ended 2024 2023 Numerator: Net income (loss) attributable to Perella Weinberg Partners – basic $ (35,844) $ (5,123) Dilutive effect from assumed exchange of PWP OpCo Units, net of tax (46,334) (26,878) Net income (loss) attributable to Perella Weinberg Partners – diluted $ (82,178) $ (32,001) Denominator: Weighted average shares of Class A common stock outstanding – basic 49,200,283 42,317,827 Weighted average number of incremental shares from assumed exchange of PWP OpCo Units 41,319,075 44,293,191 Weighted average shares of Class A common stock outstanding – diluted 90,519,358 86,611,018 Net income (loss) per share attributable to Class A common shareholders Basic $ (0.73) $ (0.12) Diluted $ (0.91) $ (0.37)
Schedule of Weighted Average Potentially Dilutive Shares Excluded from Computation of Diluted Net Income (Loss) Per Share	The following table presents the weighted average potentially dilutive shares that were excluded from the calculation of diluted net income (loss) per share under the treasury stock method or if-converted method, as applicable, because the effect of including such potentially dilutive shares was antidilutive for the period presented: Three Months Ended 2024 2023 PWP Incentive Plan Awards 5,278,079 1,727,070

Fair Value Measurements and I_2

Fair Value Measurements and Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Measurements And Investments [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the categorization and fair value estimate of the Company’s financial instruments that were measured on a recurring basis pursuant to the above fair value hierarchy levels as of December 31, 2023: December 31, 2023 Level 1 Level 2 Level 3 Total Financial asset U.S. Treasury securities $ 91,174 $ — $ — $ 91,174

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Schedule of Estimated Payments Under Tax Receivable Agreement	The Company expects to make the following payments with respect to the tax receivable agreement, which are exclusive of potential payments in respect of future exchanges and may differ significantly from actual payments made: Years Ending: Estimated Payments Under Tax Receivable Agreement Remainder of 2024 $ 1,105 2025 1,425 2026 1,839 2027 1,913 2028 1,952 Thereafter 25,926 Total payments $ 34,160

Business Information (Tables)

Business Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Geographical Distribution of Revenues and Assets Based on the Location of the Office	The following tables set forth the geographical distribution of revenues and assets based on the location of the office that generates the revenues or holds the assets and therefore may not be indicative of the geography in which the Company’s clients are located: Three Months Ended 2024 2023 Revenues United States $ 82,689 $ 95,538 International 19,438 35,888 Total $ 102,127 $ 131,426 March 31, 2024 December 31, 2023 Assets United States $ 458,522 $ 569,332 International 125,067 191,776 Total $ 583,589 $ 761,108

Organization and Nature of Bu_2

Organization and Nature of Business (Details)	Dec. 31, 2023 partner
Organization and Nature of Business Abstract
Number of partnerships	3

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accounting Policies [Abstract]
Cash	$ 0		$ 0
Restricted cash	2,925,000		2,931,000
Variable Interest Entity [Line Items]
Assets	583,589,000		761,108,000
Cash	0		0
Restricted cash	2,925,000		2,931,000
Foreign currency transaction gain (loss), before tax	500,000	$ (1,100,000)
PWP OpCo
Variable Interest Entity [Line Items]
Assets	$ 274,200,000		$ 249,600,000

Revenue and Receivables from _3

Revenue and Receivables from Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Total revenues	$ 102,127	$ 131,426
Over time
Disaggregation Of Revenue [Line Items]
Total revenues	101,005	124,329
Point in time
Disaggregation Of Revenue [Line Items]
Total revenues	$ 1,122	$ 7,097

Revenue and Receivables from _4

Revenue and Receivables from Contracts with Customers - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Reimbursable expenses recorded as revenue	$ 1,900	$ 1,200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Reimbursable expenses recorded as revenue	1,900	1,200
Contract with customer, performance obligation satisfied in previous period	58,200	94,200
Deferred revenue	2,000		$ 900
Deferred revenue recognized	500	2,900
Accrued revenue included in accounts receivable	5,300		7,100
Accounts receivable, net of allowance	57,884		47,771
Accounts receivable	(11,154)	$ 22,812
Two Clients | Client Accounting for More than 10% of Aggregate Receivable
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accounts receivable, net of allowance			$ 17,300
Two Clients | Accounts Receivable | Client Accounting for More than 10% of Aggregate Receivable
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Accounts receivable, net of allowance	22,800
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Aggregate amount of transaction price allocated to performance obligations yet to be satisfied	$ 1,400
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Revenue and Receivables from _5

Revenue and Receivables from Contracts with Customers - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,198	$ 1,143
Bad debt expense	587	162
Write-offs	(71)	(83)
Foreign currency translation and other adjustments	(29)	5
Ending balance	$ 2,685	$ 1,227

Leases - Summary of Operating L

Leases - Summary of Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Leases [Abstract]
Weighted-average discount rate – operating leases	4.80%		4.70%
Weighted-average remaining lease term – operating leases	14 years 1 month 6 days		14 years 3 months 18 days
Operating lease cost	$ 4,738	$ 5,384
Variable lease cost	900	1,350
Sublease income – operating leases	0	(159)
Total net lease cost	5,638	6,575
Net cash outflows on operating leases	$ 1,904	$ 2,391

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Operating Leases
Remainder of 2024	$ 981
2025	18,652
2026	19,958
2027	19,126
2028	17,507
Thereafter	173,452
Total lease payments	249,676
Less: Imputed Interest	(73,413)
Total lease liabilities	$ 176,263	$ 175,901

Intangible Assets - Summary of

Intangible Assets - Summary of Components of Gross and Net Intangible Asset (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Gross Amount	$ 65,800	$ 65,800
Accumulated Amortization	(48,253)	(46,608)
Net Carrying Amount	17,547	19,192
Customer relationships
Gross Amount	47,400	47,400
Accumulated Amortization	(34,760)	(33,575)
Net Carrying Amount	12,640	13,825
Trade names and trademarks
Gross Amount	18,400	18,400
Accumulated Amortization	(13,493)	(13,033)
Net Carrying Amount	$ 4,907	$ 5,367

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Finite-Lived intangible asset, useful life	10 years
Amortization expense	$ 1.6	$ 1.6
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]
Finite-lived intangible asset, expected amortization, 2024	6.6
Finite-lived intangible asset, expected amortization, 2025	6.6
Finite-lived intangible asset, expected amortization, 2026	$ 6

Fixed Assets - Summary of Fixed

Fixed Assets - Summary of Fixed Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 122,969	$ 120,439
Less: Accumulated depreciation and amortization	(30,170)	(26,787)
Fixed assets, net	92,799	93,652
Leasehold improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	81,036	79,719
Furniture and fixtures
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	12,613	12,442
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	23,424	22,522
Software
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 5,896	$ 5,756

Fixed Assets - Additional infor

Fixed Assets - Additional information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 3.4	$ 1.1

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Company's Tax Position (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (50,906)	$ (22,134)
Income tax expense (benefit)	$ 19,094	$ 5,286
Effective income tax rate	(37.50%)	(23.90%)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 3.6	$ 3.7

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		26 Months Ended
	Mar. 01, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Feb. 08, 2023
Class of Stock [Line Items]
Distribution rate		0.001		0.001
Private Placement
Class of Stock [Line Items]
Consideration received		$ 66
Minimum | Working Partners
Class of Stock [Line Items]
Lock-up period		3 years
Maximum | Working Partners
Class of Stock [Line Items]
Lock-up period		5 years
Professional Partners and ILPs
Class of Stock [Line Items]
Noncontrolling interest, units owned (in Shares)		40,795,985		40,795,985
Noncontrolling interest, ownership percentage by noncontrolling owners		43.30%		43.30%
Common Class A
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 200
Treasury stock purchase (in shares)		0		11,920,699
Share price (in dollars per Share)				$ 7.65
Conversion ratio		1		1
Common Class A | Private Placement
Class of Stock [Line Items]
Shares sold in offering	5,750,000
Price per share (in usd per share)	$ 12
Common Class A | Common Stock
Class of Stock [Line Items]
Common stock, new shares issued, class B, shares (in shares)		794,146	786,644

Debt (Details)

Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Nov. 30, 2016
Debt Instrument [Line Items]
Unamortized debt discounts and issuance costs	$ (200,000)		$ (200,000)
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum incremental revolving commitments	20,000,000
Borrowings outstanding under revolving line of credit facility	$ 0		$ 0
Debt issuance costs				$ 1,800,000
Commitment fee percentage	0.25%
Interest expense	$ 0	$ 0
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50,000,000

Equity-Based Compensation - Add

Equity-Based Compensation - Additional information (Details) $ / shares in Units, $ in Millions		3 Months Ended
	Jun. 24, 2021 USD ($)	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense | $		$ 305.2
Weighted average period of unrecognized compensation cost to RSUs		2 years 1 month 6 days
Common Class A
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Conversion ratio		1
General RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted | shares		6,125,742	6,793,265
Weighted average grant date fair value, granted (in Dollars per Share) | $ / shares		$ 13.30	$ 10.15
General PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted | shares		0	1,000,000
Weighted average grant date fair value, granted (in Dollars per Share) | $ / shares			$ 6.02
Professional Partners Award
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award grant date fair value | $	$ 301.5
Professional Partners Award | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)		3 years
Professional Partners Award | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period (in years)		5 years

Equity-Based Compensation - Sum

Equity-Based Compensation - Summary of Awards Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
PWP Incentive Plan Awards	$ 11,060	$ 7,553
Total Equity-based compensation	46,807	47,671
Income tax benefit of equity-based awards	4,709	3,559
PWP Incentive Plan Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
PWP Incentive Plan Awards	506	595
Total Equity-based compensation	32,865	27,337
Legacy Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Equity-based compensation	0	3,225
Professional Partners Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total Equity-based compensation	$ 13,942	$ 17,109

Other Compensation and Benefi_2

Other Compensation and Benefits (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Costs incurred for employee benefit plans	$ 1,800	$ 1,700
Business Realignment
Defined Benefit Plan Disclosure [Line Items]
Incurred expenses	3,249
Business Realignment | Business Realignment | Employee Severance
Defined Benefit Plan Disclosure [Line Items]
Incurred expenses	1,800
Business Realignment | Accelerated Share Based Compensation | Employee Severance
Defined Benefit Plan Disclosure [Line Items]
Incurred expenses	$ 1,500

Other Compensation and Benefi_3

Other Compensation and Benefits - Restructuring and Related Costs (Details) - Business Realignment $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Business realignment, beginning balance	$ 12,525
Incurred expenses	3,249
Non-cash expenses	(1,499)
Payments	(11,137)
Business realignment, ending balance	$ 3,138

Net Income (Loss) Per Share A_3

Net Income (Loss) Per Share Attributable to Class A Common Shareholders - Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share Attributable to Class A Common Shareholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator:
Net income (loss) attributable to Perella Weinberg Partners – basic	$ (35,844)	$ (5,123)
Dilutive effect from assumed exchange of PWP OpCo Units, net of tax	(46,334)	(26,878)
Net income (loss) attributable to Perella Weinberg Partners – diluted	$ (82,178)	$ (32,001)
Denominator:
Weighted average shares of Class A common stock outstanding - basic (in Shares)	49,200,283	42,317,827
Weighted average number of incremental shares from assumed exchange of PWP OpCo Units (in Shares)	41,319,075	44,293,191
Weighted average shares of Class A common stock outstanding - diluted (in Shares)	90,519,358	86,611,018
Net income (loss) per share attributable to Class A common shareholders
Basic (in Dollars per Share)	$ (0.73)	$ (0.12)
Diluted (in Dollars per Share)	$ (0.91)	$ (0.37)

Net Income (Loss) Per Share A_4

Net Income (Loss) Per Share Attributable to Class A Common Shareholders - Schedule of Weighted Average Potentially Dilutive Shares Excluded from Computation of Diluted Net Income (Loss) Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
PWP Incentive Plan Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in Shares)	5,278,079	1,727,070

Fair Value Measurements and I_3

Fair Value Measurements and Investments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis $ in Thousands	Dec. 31, 2023 USD ($)
Financial Assets Fair Value Disclosure [Abstract]
U.S. treasury securities	$ 91,174
Level 1
Financial Assets Fair Value Disclosure [Abstract]
U.S. treasury securities	91,174
Level 2
Financial Assets Fair Value Disclosure [Abstract]
U.S. treasury securities	0
Level 3
Financial Assets Fair Value Disclosure [Abstract]
U.S. treasury securities	$ 0

Fair Value Measurements and I_4

Fair Value Measurements and Investments - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Fair Value Measurements And Investments [Abstract]
Investment owned, at cost			$ 89.3
Net realized and unrealized gain (loss) on treasury securities	$ 0.3	$ 0.4

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Tax savings agreement, percent	85%
Amount due pursuant to tax receivable agreement	$ 34,160	$ 30,928
Partner promissory notes recognized as a reduction in equity	2,100
Partners
Related Party Transaction [Line Items]
Due from related parties	$ 3,600	$ 3,500

Related Party Transactions - Sc

Related Party Transactions - Schedule of Estimated Payments Under Tax Receivable Agreement (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Related Party Transactions [Abstract]
Remainder of 2024	$ 1,105
2025	1,425
2026	1,839
2027	1,913
2028	1,952
Thereafter	25,926
Total payments	$ 34,160	$ 30,928

Commitments and Contingencies (

Commitments and Contingencies (Details)	3 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Oct. 20, 2015 claim
Loss Contingencies [Line Items]
Litigation costs	$ 2,300,000	$ 0
Pending Litigation
Loss Contingencies [Line Items]
Loss contingency, pending plaintiffs claims, number | claim				14
Indemnification Guarantee
Loss Contingencies [Line Items]
Estimate of possible loss	$ 0		$ 0

Business Information - Addition

Business Information - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) Segment	Mar. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | Segment	1
Number of reportable segments | Segment	1
Revenues | $	$ 102,127	$ 131,426
One Client | Revenue
Segment Reporting Information [Line Items]
Revenues | $	$ 15,000
Client Accounting for More than 10% of Aggregate Revenue | One Client | Revenue
Segment Reporting Information [Line Items]
Concentration risk, percentage	10%

Business Information - Schedule

Business Information - Schedule of Geographical Distribution of Revenues and Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 102,127	$ 131,426
Assets	583,589		$ 761,108
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	82,689	95,538
Assets	458,522		569,332
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	19,438	$ 35,888
Assets	$ 125,067		$ 191,776

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands		3 Months Ended
	May 01, 2024 $ / shares	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($) $ / shares	Mar. 31, 2023 USD ($) $ / shares
Subsequent Event [Line Items]
Equity-based compensation | $			$ 46,807	$ 47,671
Liability Classed Awards | Forecast
Subsequent Event [Line Items]
Equity-based compensation | $		$ 116,500
Class A common stock
Subsequent Event [Line Items]
Dividend declared (in Dollars per Share) | $ / shares			$ 0.07	$ 0.07
Subsequent Event | Class A common stock
Subsequent Event [Line Items]
Dividend declared (in Dollars per Share) | $ / shares	$ 0.07
Subsequent Event | Class B common stock
Subsequent Event [Line Items]
Class B dividends rate compared to Class A	0.001