Philip R. Clarke III

Philip R. Clarke III, 75, of Westmont, formerly of Clarendon Hills, passed away unexpectedly Dec. 6, 2023.

A lifelong resident of the Chicago area, Philip attended Walker School in Clarendon Hills. He later continued a family tradition by attending and graduating from Asheville School, a private boarding school located in Asheville, N.C. He returned to Chicago for his undergraduate and master's degrees, obtaining both from the University of Chicago (economics and MBA), and also completed his CPA from the University of Illinois.

Pursuing a career in investment banking, in 1972 he joined the original Chicago Corporation - a firm founded by his father in 1965 - leading to a nearly 50-year career in the financial industry with firms such as ABN-AMRO, Heller Financial, GE Capital and Focus Investment Banking. In 2010, he co-founded a new incarnation of The Chicago Corporation, and as managing director he focused on merger and acquisition transactions, raising public and private equity capital, and specializing in middle-market deals. At The Chicago Corporation, he particularly enjoyed mentoring young associates and proudly supported them when they moved on to larger firms.

A long-suffering Chicago sports fan, he rejoiced in finally getting to celebrate the Cubs winning a World Series Championship in 2016, along with three Stanley Cups for the Blackhawks, the latter of which he was able to personally witness from his season ticket seats. In addition to being a Chicago sports fan, he was also an enthusiastic supporter of his two daughters' sporting careers, from the youth level to collegiate and beyond.

An avid fly-fisherman, he traveled the world in pursuit of the elusive "grand slam". He was happiest in a boat on a lake in Northern Wisconsin with friends and family, guiding them to the best fishing spots and closing the evening out on the front porch listening for the whippoorwills and loons, a glass of red wine in hand.

Philip was a dedicated golfer, and spent many happy weekends on the greens, racking up three hole-in-ones, and culminating in winning the 2013 Centennial Cup Grand Championship with his partner Brian Mulhern at Hinsdale Golf Club. He supported the Evans Scholar Caddy Program for 47 years. He also served as a board member of HGC, having the honor of being president during the centennial year in 1998.

Much like his grandfather and namesake, Philip was a devoted philanthropist and servant leader, donating time and resources to many causes close to his heart. One of the most special was Asheville School, where he served 18 years on the board and held many roles from class representative all the way up to chairman, which allowed him the honor of presenting both Valerie and Lissa their diplomas. In 2016, he was presented with the Henry G. Heedy '33 Service Award, an award recognizing an alum "whose outstanding and unselfish service to the school personifies the highest ideals of an Asheville School education."

He is survived by his wife of 38 years, Diane L. Clarke; his daughters, Valerie Ann (James McLemore) and Lissa Hope Clarke; and his sister, Barbara C. (the late Dr. Robert) Nash.

He was preceded in death by his parents, Philip R. Clarke Jr. and Valerie M Clarke.

A celebration of Philip's life will be held at a future date.

In lieu of flowers, memorials may be made to the Philip R. Clarke Scholarship Fund at Asheville School. Donations may be made via check, mailed to the Philanthropy Office at 360 Asheville School Road, Asheville NC 28806, or online at (indicate his name in the "In Honor/Memory of" section).

Sullivan Funeral Home Hinsdale handled the arrangements.