Steven Murray an Incredible Investor and Philanthropist

Background
Born in 1962, Stephen Murray was raised in the North Tarrytown, New York area and he went to high school at Sleepy Hollow (click the following link to Learn more about Stephen Murray CCMP Capital: https://www.pehub.com/2007/10/5-questions-with-stephen-murray/). Murray went on to attend and graduated from Boston College. In 1984, he earned a Bachelor’s degree in Economics and then graduated from Columbia Business School in 1989 earning a Master’s degree in Business Administration.

Career

Murray is known for being an industry leader by assisting JP Morgan and establishing a private equity business. He joined MH Equity Corporation, which merged Manufacturers Hanover’s private group with its leveraged finance unit. In 1991, Chemical Bank purchased Manufacturers Hanover’s the Chemical Venture Partners joined with MH Equity. In 1996, Chase Manhattan Corporation merged with Chemical Bank and then Venture Partners became Chase Capital Partners.

Stephen Murray eventually became the leader of buyout business at JP Morgan Partners. He became the co-founder of CCMP Capital, which was a spinout of JP Morgan Chase that included the growth equity and buyout team of its private equity group. Murray became CEO in 2007.

Throughout Murray’s career, he served on the board for several companies such as AMC Entertainment, Aramark, Cabela’s, Generic Power Systems, Legacy Hospital Partners, Octagon Credit Investors, and Ollie’s Bargain among several others.

Philanthropist

Murray was not only a successful business person, but he also was actively involved in philanthropy. Murray served as Boston College’s Vice Chairman of the board of trustees and served as a member of Make a Wish Foundation in Metro New York. Also, Murray supported Lower Fairfield County’s food bank, Columbia Business School, and Stanford Museum. Learn more about Stephen Murray CCMP Capital: http://patch.com/connecticut/stamford/stephen-p-murray-52-financial-executive-stamford-resident-vice-chair-boston-college-board-trustees

Murray Dies….

At the age of 52, Murray died on March 12, 2015. Just a month prior Murray left CCMP due to health related issues as reported by the firm. Many people remembered Murray as being a hardworking and genuinely compassionate man. He was known to be everything to everybody, a loving husband, an adoring father, and a dear friend.

Greg Brenneman CCMP Chairman, who was the successor of Murray stated, “Our deepest condolences, thoughts, and prayers are with his wife and sons. We know they were his pride and joy.” Brenneman explained that Murray was an excellent investor and that his predecessors were more than grateful for his positive contributions to the success of CCMP.

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Ex-CCMP Capital CEO Steve Murray passes away

 

Mr. Brenneman Announces Death of Former CCMP Capital Stephen Murray

CCMP Capital has finally confirmed that Stephen Murray the former President and CEO of the company has died. At the age of 52. According to the company’s chairperson, who has now taken over his duties, Murray resigned a month earlier before his death last month citing health reasons.

After his death, Mr. Brenneman, the new President, Chairman, and CEO expressed the sadness on behalf of the company after learning the death of the former partner and friend of the firm. He later sent his condolences, thoughts, and prayers to the family of Stephen Murray’s Wife and sons.

Brennam Described Ex-CCMP Capital as a man who was dedicated to his work, pioneer of the firm, a terrific investor and dealmaker in the private equity industry.

He also said on behalf of the company that Stephen Murray’s positive contribution will always be appreciated for making CCMP Capital become a success. During Mr. Murray’s reign, the company went through various transformations that have led to the current status.

CCMP Capital roots started in the 1980s. It started with Chemical Venture Partners which was a division of Chemical Bank. Manufacturers Hanover Corp. then merged with Chemical Bank and brought together MH Capital Partners and Chemical Venture Partners. Later Chase Manhattan Bank merged with Chemical Bank making Chase become part of J.P. Morgan & Co., and the resulting business was referred to as J.P. Morgan Partners. Learn more about Stephen Murray CCMP: https://www.pehub.com/2007/10/5-questions-with-stephen-murray/

CCMP was formerly referred to as JP Morgan Partners before the name was changed after the company separated with J.P. Morgan Chase. Murray was one of the pioneers of JP Morgan’s Merchant Bank in 1989 contributing immensely to the growth of the private-equity business. Learn more about Stephen Murray CCMP: http://heroesofthepacific.com/2016/02/a-history-of-ccmp-capital-and-its-founding-ceo-stephen-murray/

The firm’s strategy was to invest in bigger and better known private equity firms in acquiring minority stakes in companies such as concession operator Aramark. For instance, the firm won a bid for Warner Chilcott, over a contested bid by competitors like TPG Capital, Blackstone, and KKR. Later, TPG responded their anger through a threat to pull all their businesses from JP Morgan. It was through this experience that CCMP Capital was split off from JP Morgan.

Murray has had a successful run in his leadership after he was named CEO in 2007. The major contribution in the firm was the establishment of a new identity with investors. He participated in the raise of a total of $3.6 billion of funds in 2015.

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The Exponential Growth of CCMP Capital Under Stephen Murray’s Leadership

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