Friends and colleagues at CCMP Capital were saddened by the death of the company’s founder, Stephen Murray. The former CEO passed away at the age of 52 and is survived by his wife, Tami A. Murray whom he lived with in Stamford, Connecticut, and their four sons.
Stephen Murray stepped down from his high ranked positions at CCMP Capital as president and chief executive officer after serving in the private firm for over two decades.
The firm’s history dates back to the early 1980s when it was an established division of Chemical Bank known as Chemical Venture Partners.
Murray joined the branch in 1989 soon after his graduation was remained at the firm for years while it faced several changes in ownership and branding. Murray’s resignation from his able leadership position was linked to health issues. Learn more about Stephen Murray CCMP Capital:http://fortune.com/2015/03/13/ex-ccmp-capital-ceo-steve-murray-passes-away/ and http://patch.com/connecticut/stamford/stephen-p-murray-52-financial-executive-stamford-resident-vice-chair-boston-college-board-trustees
CCMP Capital is based in New York and deals with middle-market leveraged buyouts and growth equity investments. Greg Brenneman, the current CCMP chairman, president, and CEO described his predecessor as an outstanding equity investor and deal maker who dedicated most of his life to his career.
Chemical Venture Partners, the initial branding of CCMP was merged with MH Capital Partners in 1991 after Chemical Bank bought Manufacturers Hanover Corporation. In 1996, Chemical Bank signed an agreement with Chase Manhattan Bank and Chase became part of the then J.P. Morgan & Co. Read more: 5 Questions with Stephen Murray, CEO of CCMP Capital
It was at this time that Stephen Murray acquired a lead role in the buyout business which was renamed to J.P. Morgan Partners in 2005 until CCMP Capital was created as a private equity firm. He was named the firm’s CEO in 2007.
The company has had a mostly successful run under Murray with the most recent funds raised by CCMP Capital estimated to be about $3.6 billion.
Murray was a philanthropist who supported several charity causes and campaigns including the Make-A-Wish Foundation of Metro New York, Boston College, the Food Bank of Lower Fairfield County, Stamford Museum, and Columbia Business School.
He grew up in the suburbs of New York in Westchester County and graduated from Boston College in 1984 with a degree in Economics. Read more: The Exponential Growth of CCMP Capital Under Stephen Murray’s Leadership
His career kicked off early when he was recruited by Manufacturers Hanover Corporation soon after his graduation to work as a credit analysis intern and five years later, he graduated from Columbia Business School with a master’s degree in business administration officially beginning his equity investment career on full time.