Death of Stephen Murray Shocks Private Equity World

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Posted by omeditors | Posted in skydiving accident, Sports | Posted on 11-05-2016

Stephen Murray, well known for his role as the CEO of CCMP Capital, passed on at the age of 52. The news of his death brought sadness to all who knew him. Murray was a well loved and respected businessman and leader. He had served CCMP Capital Advisors for approximately two and a half decades, before stepping aside for health reasons. Greg Brenneman took over from Mr. Murray as the Chairman and Chief Executive Officer of the firm.

In his statement, Brenneman expressed his sadness on learning of the passing of the great business icon and sent his deepest condolences to the family of Mr. Murray. He described the former CEO as a “terrific investor and deal maker” and was grateful for all his efforts in making CCMP the success it is today.

Stephen Murray’s journey in private equity began after his graduation from Boston College back in 1984. He began by joining a training program at Manufacturers Hanover Corporation as a credit analyst. He proceeded to join MH Equity in 1989 after a merger between the firm’s private equity group and its leveraged finance unit. In 1991, the firm was acquired by Chemical Bank leading to the merger of MH Equity and Chemical Venture Partners.

After the merger between Chase Manhattan Corporation and Chemical Bank in 1996, Chemical Venture Partners ended up becoming Chase Capital Partners. In 2005, Murray rose up the ranks to be named JP Morgan Partners’ head of buyout business. He then proceeded to form the spin-out firm, CCMP Capital. The firm was involved in investing in middle-market deals. This was alongside the private equity clients of the bank. Learn more about Stephen Murray CCMP: http://observer.com/2015/02/this-old-thing-private-equity-honcho-drops-little-place-uptown-for-11m/

Murray built JPMorgan Chase to the sizable private-equity business it is today. The firm generally invested in conjunction with larger and better private equity firms by acquiring minority stocks in various companies such as Aramark, a concession operator. In 2004 however, the firm beat KKR, TPG Capital, and Blackstone to bid successfully for Warner Chilcott, a publicly traded drug company. This transaction led to CCMP splitting from JPMorgan. Learn more about Stephen Murray CCMP: http://culturebytes.org/the-exponential-growth-of-ccmp-capital-under-stephen-murrays-leadership/

Stephen Murray grew up in New York City in a suburb in Westchester County. He was awarded his Bachelor of Arts Degree back in 1984 by Boston College. He proceeded to earn a Master of Business Administration later on from Columbia University in New York. The two learning institutions are beneficiaries of Stephen Murray’s philanthropy. Murray is survived by his wife and four sons.

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Stephen P. Murray, 52; Financial Executive; Stamford Resident; Vice Chair Boston College Board of Trustees
CCMP’s Murray dead at 52