Mathers Fund of Chicago merged with Gabelli Asset Management of Rye, N.Y. on June 21. Henry G. Van der Eb, formerly chief executive of the Mathers Fund, is now president and CEO of the Gabelli Mathers Fund, which will remain in Chicago. Van der Eb said the deal will close subject to shareholder approval, with the shareholder meeting expected to take place in late July or early August.
Van der Eb said the merging of the two companies did not entail an outright purchase. Rather, he said, he decided to partner with Gabelli because "joining with a larger fund would enhance the competitive advantage of the Mathers Fund and give us access to Gabelli's proprietary research and distribution services." Mathers Fund has $100 million under management while Gabelli has $18 billion in assets under management.
