CCMP Capital has reported that the former president and CEO of the company has passed away at the age of 52. Before his death, he had already left the company premises and relieved his roles due to what the firm described as “health-related” reasons.
Murray had worked for CCMP and predecessor companies since 1989. The firm was once referred to as Chase Capital Partners and later changed its named to JP Morgan Partners when J.P. Morgan purchased it. The company was once the largest private corporation in the world, but the group spun out independently in 2006 and 2007, and Murray got a chance to become CEO succeeding the founder, Jeff Walker.
According to the firm, Stephen Murray worked for the company for roughly 25 years stepped down a month before his death. When Murray resigned his duties, Chairman Greg Brenneman took over his responsibilities. During the sad announcement about Murray’s death, Mr. Brenneman expressed his deepest condolences and prayers to the family of the deceased and referred Murray as former friend and partner.
Mr. Benemann mentioned Murray as one of the founding fathers of CCMP Capital and said he was a terrific investor and dealmaker who spent his time and effort serving in private equity. He stated that the company will remain forever grateful for his contributions to the success of CCMP and its making. Learn more about Stephen Murray CCMP: http://patch.com/connecticut/stamford/stephen-p-murray-52-financial-executive-stamford-resident-vice-chair-boston-college-board-trustees
While the roots of CCMP dates back to 1980s, Mr. Murray joined the firm in 1989 and stayed with CCMP Capital as it went through various transformations and change in ownership until it was able to stand alone in the competitive market (please learn more about Stephen Murray CCMP: http://observer.com/2015/02/this-old-thing-private-equity-honcho-drops-little-place-uptown-for-11m/). In the 1980s, it all started with Chemical Venture Partners as a division of the Chemical Bank.
The next thing was a merger between the holding company Manufactures Hanover Corp. and the Chemical Bank which influenced the merging of Chemical Venture Partners and MH Capital Partners.
Later, Chemical Bank merged with Chase Manhattan Bank making Chase o become part of J.P. Morgan & Co., due to his buyout, the enterprise changed its name to J.P. Morgan Partners.
Stephen Murray was made the head of the buyout business at J.P. Morgan Partners and led the firm through its 2006 spin out. Mr. Murray has made an enormous contribution to the company one of it being the two more multibillion-dollar funds. The latest deal he closed was in September where he gathered $3.6 billion for the enterprise.