John L. Keeley Jr., president and former chief investment officer of Keeley Asset Management Corp., Chicago, has died at the age of 75.
Mr. Keeley, who founded KAMCO in 1982, died Thursday, spokesman James Stamper said. The cause was a blood clot.
“John brought a very unique perspective to money management by seeking to identify value where others could not,” said Brian Keeley, Mr. Keeley's nephew and a senior vice president and co-lead portfolio manager at KAMCO, in the news release. “Further, his vision and passion for the firm and its people were very special.”
Added Kevin Chin, co-lead portfolio manager, in the news release: “During my long tenure at Cramer Rosenthal McGlynn, I always had tremendous respect for John as a competitor. Working alongside John, a pioneer in event-driven value investing, was one of the key factors in my decision to join the firm in 2013.”
Mr. Chin, who also worked as co-CIO alongside Mr. Keeley, assumed Mr. Keeley's lead investment responsibilities, along with Brian Keeley, when Mr. Keeley stopped down from that role earlier this year.
KAMCO has more than $4.7 billion in assets under management.
Mr. Keeley is survived by his wife, Barbara, and sons John III, Mark and Kevin. Mr. Keeley's youngest son, Chris, died in 2002.
John Keeley III is a vice president, trading and research, at KAMCO; Mark Keeley is the firm's chief marketing officer. Kevin Keeley, CEO, will replace his father as president, and be responsible for all non-investment activities, the release said.
Visitation will be from 3 p.m. to 9 p.m. June 11 at Hallowell & James Funeral Home, 1025 West 55th St., Countryside, Ill. A funeral Mass will be celebrated at 10 a.m. June 12 at Old St. Patrick's Church, 700 West Adams St., Chicago, Ill.
In lieu of flowers, memorials can be made to the Christopher L. Keeley Memorial Fund, c/o The First National Bank of La Grange, 620 W. Burlington Ave., La Grange, IL 60525.