Stephen Murray, former CEO of CCMP Capital, died at the age of 52. The successful entrepreneur had resigned last month citing health reasons. The news was confirmed via an email by Alexandra LaManna, who the spokesman for a company based in New York.
Murray was a co-founder of CCMP, a company that spun out of JPMorgan Chase & Co. in 2006 to evade potential conflicts with the bank’s customers. CCMP Capital is a firm that concentrates in the middle-market leveraged mergers and development-equity investment. The company raised its most recent fund last year with 3.6 billion U.S Dollars.
In an emailed statement, the current chief executive officer Greg Brenneman, said that the management is saddened to find out that their close friend and former partner, Murray had passed away. He goes on to add that Stephen was a terrific financier and a deal maker.
According to official website CCMP Capital, the company invests between 100 million U.S dollars to 500 U.S dollars of equity in a single transaction. CCMP concentrates on firms in the energy, healthcare, industrial and consumer sectors. Its investment comprises Warner Chilcott Plc, Cabela’s Inc., and Quiznos Corp.
A 2011 article in Institutional Investor magazine states that Stephen Murray was born and brought up in a New York City outskirts of Westchester county. He graduated with a Bachelor’s degree in Arts from Boston College and a Master’s degree in Business Management from University of Columbia in New York.
Joining the JPMorgan
According to New York Times, In 1984, Stephen Murray was employed as a credit apprentice Hanover Trust Co. which is a manufacturers company based in New York City. In 1989, Stephen joined a private venture and leveraged-finance department of Hanover that was a precursor of CCMP Capital. In 2000, Manufacturers Hanover became part of JPMorgan after three consecutive mergers.
In 2005, Stephen Murray was appointed as the president of the bank’s merger venture. JPMorgan Partners, as CCMP was recognized before its spinoff, was widely known for investing in middle-market transactions alongside that private equity customers of the bank. CCMP Capital, previously JPMorgan Partners transformed its brand name in 2006, after it was spun off as separate companies.
Typically, the company invested alongside established and well-recognized PE companies, gaining minority stakes in firms like concession operator Aramark. Nevertheless, in 2004, the company bid effectively for openly traded drug firm Warner Chilcott, defeating TPG Capital, KKR, AND Blackstone.
According to public records, Stephen Murray has left behind Tami A. Murray, his wife, and his four sons. The family lived in Stamford, Connecticut.