Gabelli Announces Partnership with Keeley’s Asset and Wealth Management Services

Core Viewpoint - GAMCO Investors, Inc. has reached an agreement to acquire the investment management services business of Keeley – Teton Advisors, LLC, which includes four mutual funds and approximately 500 separately managed accounts with assets under management of nearly $1.0 billion [1][2]. Group 1: Transaction Details - The transaction allows Keeley employees, including research, portfolio management, and client service professionals, to continue operating under the Keeley name and servicing existing clients [2]. - The acquisition is seen as a significant milestone for Keeley, enhancing its commitment to delivering long-term value for customers and stakeholders [3]. Group 2: Company Background - Gabelli is recognized for its research-driven value approach to equity investing, operating through subsidiaries that manage a diverse range of investment products, including 24 open-end funds and 14 closed-end funds [4]. - The firm serves a broad client base, including institutions, intermediaries, offshore investors, private wealth, and direct retail investors, and has successfully integrated new teams of registered investment advisors (RIAs) [4][5].