November 4, 2016 · CCMP, CEO · (No comments)

Stephen Murray had a long career in the financial sector of New York City. He was also one of the most active philanthropists in the city. Murray died last year after retiring from his private equity group, CCMP Capital, one month earlier due to health complications. He was 52 years old.

Education

After being born and raised in Westchester, NY, Stephen Murray started out his career by gaining the asset of a good education. He received his undergraduate degree in Economics from Boston College in 1984. He was still active at the school up until his death. He then got his Master’s in Business Administration from Columbia University before entering the workforce.

Early Career

He started his career after his undergrad working for Hanover Trust in the credit department. He started as just a trainee but worked his way up and rose to the position of VP of Middle Market Lending in just 5 years. He worked for Hanover trust until 2000. That is when they were bought out by Chase Bank. During his time at Hanover, he did join a private equity firm that would later develop into what we know today at CCMP Capital.

After the merger, Murray was employed at JP Morgan & Chase as head of the buyout division. He had experience with this as he had been running a private equity fund for about 10 years that specialized in bank buyouts and growth lending. This fund would continue to grow until Chase bought out Bank One.

Read more: Ex-CCMP Capital CEO Steve Murray passes away

CCMP

The merger with Bank One was the genesis for the creation of CCMP Partners. Bank One already had a private equity division. The CCMP fund was spun out of Chase Bank to prevent any conflict of interest between the fund and any of Chase’s clients from occurring.

Murray was known as a great deal-maker by his colleagues in the financial industry on ccmpcapital.com. This is a skill that he used often during his time as CEO of CCMP. The fund focused on making investments in the retail, healthcare, and energy markets. Their investments were fairly large as they average between $100 million and $500 million per transaction.

Philanthropy

On top of his successful business career, Murray also gave back to the community. Murray’s most notable role was a member of the board for the Make a Wish Foundation in Metro New York. He also served on the Board Of Trustees at his alma mater, Boston College.

Learn more about Stephen Murray: http://www.wsj.com/articles/ccmp-capital-advisors-gets-backing-to-resume-investing-from-fund-1430946145

Former CCMP Capital CEO Stephen Murray has passed away, according to an article in the Wall Street Journal. The 52-year-old investment guru had taken a leave of absence in February for undisclosed medical reasons. The news has investors on pins and needles, according to an unnamed source.

“We are sad to announce the passing of our friend and colleague Stephen,” said interim CEO Greg Brenneman. “This is a huge blow to our company. We have sent our heartfelt condolences to his wife Tami and his children.”

Under Murray’s guidance, CCMP rose through the ranks to become one of most profitable investment companies in the world. The company’s portfolio is currently worth over $3 billion.

CCMP Capital has undergone a number of mergers and acquisitions over the years.

Murray, a Boston College graduate, joined the company in 1984 right out of college. Murray entered Hanover Manufacturers Corporation as a credit analyst. After a few years, he was named head of the credit department.

Hanover was soon bought by Chemical Bank Partners. The company then merged with Chemical Bank Partners. After the spinoff of JP Morgan Chase, CCMP Capital was born. In 2007, Murray was named CEO. One of Stephen Murray’s most impressive ventures was to outbid several larger investment houses for pharmaceutical giant Warner Chilcott.

“Stephen was a heck of a salesman,” said a former colleague. “I don’t know of anyone who exceeded him in talent.”

Murray was also known for his tremendous generosity. He sat on a number of boards including Aramak, The Vitamin Shoppe, AMC Entertainment and Quizno’s on wsj.com. He gives to the Make-A-Wish Foundation and the Food Bank of Lower Westchester County.

Colleagues say Stephen Murray left a tremendous legacy and very big shoes to fill. “He was a legend in this industry,” said Brenneman. “He will be sorely missed by all who knew him.”

October 18, 2016 · Businessman, CCMP · (No comments)

Stephen Murray made a name for himself in the private equity field. He was a brilliant investor with a knack for making deals that made his clients a lot of money over the course of his long career. Stephen is best known for being the president and CEO of CCMP Capital. This is a private equity company that is located in New York City. He held this position from 2007 until he left the company due to health problems in February of 2015. Unfortunately, he died one month later at the age of 52. However, Stephen Murray left a remarkable legacy in the private equity industry that will not soon be forgotten. Stephen’s career is one that is admired and studied by many investors.

Stephen was always good in school. He used his considerable academic gifts to eventually gain acceptance into Boston College. Stephen Murray decided to major in economics because he knew there were many different career paths he could take with that particular degree. He eventually completed his studies at Boston College in 1984. He received several lucrative job offers at this time. However, he decided to enroll in graduate school in order to further his education. He chose the Columbia School of Business as the place where he would pursue a business administration master’s degree. He would complete this degree in 1989.

With his education complete, Stephen was approached by the Manufacturers Hanover Corporation. They offered him a unique opportunity to join their training program. Stephen Murray realized that this was an enormous opportunity to learn a lot of very valuable information about the industry that he was interested in. He would then move on to a job that was offered to him at the MH Equity Corporation. It was at this job that Stephen got his first real taste of what it was like to work in the private equity field on a regular basis. He knew that he wanted to eventually oversee hedge funds on Patch because he loved the challenge that investing presented to him.

Stephen made himself a very valuable member of the company. It was because of this that he was retained during several corporate shakeups that occurred during his employment with the company. MH Equity would eventually merge with Chemical Venture Partners in 1991. Five years later, Chemical Bank would once again merge with Chase Manhattan Corporation. Stephen stayed loyal to the company that gave him a start in the private equity industry. It was in 2006 that Stephen thought the time was right to finally break out on his own. He and several of his colleagues founded CCMP Capital. It was overseen by JP Morgan Chase. The company was a tremendous success. Stephen’s brilliant leadership allowed the company to flourish.

October 2, 2016 · Businessman, CCMP · (No comments)

Steve Murray was a principled executive, an investing genius, and a terrific dealmaker. He was one of the pioneers who oversaw the spun out of CCMP Capital from JP Morgan Partners. After serving as a junior employee and President of CCMP since 1989, Murray left his position in 2015 a month before his death. The company referred to his high profile exit as “health-related” reasons.

Stephen Murray’s impact in the society

The demise of Stephen Murray continues to shake many people, especially those who knew the roles he had played in redefining the corporate sector on fortune.com and making the world a better place. However, even after his death, his contributions to the business and philanthropy worlds are still noticeable. He was an active supporter and donor of Metro New York-based Make-A-Wish Foundation. His main intention was to ensure economically disadvantaged children could access quality education and become better persons in the society on Patch. Other beneficiaries of his philanthropic support include the Stamford Museum, Columbia Business School, and the Fairfield County-located Food Bank.

Academic accomplishments

Steve Murray treasured education a lot and believed it had played a significant role in his success in both philanthropy and business arena. He leveraged his economic knowledge acquired from pursuing a degree in economics at the prominent Boston College to help his firm invest wisely and manage its finances. Murray was an alumnus of the Columbia Business School where he received a degree in the field of business administration.

Career breakthrough

Steve Murray started his business career by enrolling in the Manufacturers Hanover Corporation Training Program as a beginner in credit analysis. Later on, he became part of MH Equity Corporation that joined the private equity group of Manufacturers Hanover with its commercial unit. In 1991, Chemical Bank bought Manufacturers Hanover while MH Equity combined with Chemical Venture Partners. In 1996, Chase Manhattan Corporation combined with Chemical Bank while Chemical Venture Partners changed its name to Chase Capital Partners. In 2005, Stephen Murray ascended to the helm of JP Morgan Partners’ buyout business. In 2006, he led the separation CCMP Capital comprised of growth equity and buyout group from JP Morgan Chase. Murray became the CEO and President of CCMP in 2007.

Although CCMP Capital remorse his passing, the firm is equally happy with Steve Murray’s contributions, especially the development of an excellent portfolio. Under his leadership, the company created a broad base of loyal clients. The company can now handle complex transactions and oversee major buyouts thanks to the leadership and deal-making skills that Murray passed down to his employees.