CCMP Capital Misses Stephen P Murray, The Man Who Made Them What They Were

Stephen P Murray knew investing, and he knew how to attract investors to good deals. He was the CEO of one of the largest private equity firms in the US, CCMP Capital. He was with CCMP Capital even before it became known by that name, and throughout his time there, the company acquired a vast amount of publicly traded companies. Stephen Murray CCMP Capital’s portfolio encompasses nearly every industry, and companies they’ve purchased over the years include Aramark, Quizno’s Subs, Chaparral Energy and MedPace. Unfortunately he passed away in March of 2015, a major loss for the firm, and current CEO Greg Brenneman has called him a leader and a friend.

Murray seemed to be destined for the financial world on blogs.wsj.com all the way at a young age. He studied economics in his undergrad years at Boston College, and would later get his MBA from Columbia University. Manufacturers Hanover Corporation hired him to work in their credit analyst unit, and soon he was moving up the ranks to the leveraged finance unit. In a relatively short time, he became vice president of the buyout division and soon began eying business acquisitions that would prove very attractive for Manufacturers Hanover investors on glassdoor.com.

Murray’s buyout unit would operate under its own authority, though the bank owned it, and it changed its name several times when the bank was bought out. Chemical Bank bought them out first, changing the buyout division name to Chemical Partners. Chase bought them out next, and then finally JP Morgan made the acquisition that would change the name to JP Morgan Partners. Murray helped raise funds through pitches to investor, and JP Morgan Partners raised a hefty $5.4 billion in their first fund of 2002. Murray’s unit would remain part of JP Morgan until 2006, when a company they purchased was also being bid on by one JP Morgan’s clients.

Stephen Murray named his spinout company CCMP Capital, combining the names of all the banks that had previously owned it. Murray was CEO of CCMP Capital for 8 years, and the company had two more fundraisers in that time of $3.4 billion in 2007, and $3.6 billion in 2014. Around February of 2015, Murray had to step down from the firm due to health problems, and the very next month he died leaving behind a wife and four children. Murray was also a philanthropist who donated to local charities and sat on the board at several non-profit groups.


Further Reading: https://www.pehub.com/2007/10/5-questions-with-stephen-murray/