On March 2015, Stephen Murray, the former CCMP Capital President and CEO, died from health related complications. Murray had left his position as the company President and CEO just one month earlier after citing health related issues. The 52 year-old Murray was succeeded by his wife and sons.
His successor, Craig Brenneman, expressed his sincere condolences on behalf of the entire family at CCMP Capital. He said that everybody at the firm was saddened by the departure of Murray. Brenneman reiterated that Murray was a great investor and skilled deal maker in private equity. He contributed a lot to the success of CCMP Capital as well as its predecessor companies.
Murray was an alumni of Boston College from 1980 to 1984 where he studied economics. He later attended Columbia Business School between 1985 and 1989 for his MBA.
The Career of Stephen Murray
Murray had been with the firm and its predecessors since 1989. He started his professional career working at MH Equity Corporation, after a four-year training program at Manufacturers Hanover Corporation (MHC). In 1991, Chemical Bank purchased MHC while Chemical Venture Partners got into a merger with MH Equity.
Chemical Venture Partners on Bloomberg.com changed its name to Chase Capital Partners in 1996. When J.P. Morgan acquired Chase Capital Partners, it became JP Morgan Partners. At the time, it was one of the biggest private equity firms globally. Murray stayed at the firm throughout its successive transitions and mergers. He rose up the ranks by virtue of his hard work and experience in private equity.
In 2005, Murray was part of a buyout business that spun off from JP Morgan Partners. The group, CCMP Capital, was headed by Jeff Walker. It was composed of JP Morgan Partners’ buyout and growth equity teams. In 2007, Stephen Murray succeeded Jeff Walker as CCMP Capital’s CEO. He was instrumental in growing the firm and closed several successful deals including raising $3.6 billion barely five months before he stepped down as company CEO.
Board Membership and Philanthropy of Stephen Murray
Murray was appointed to several boards during his career. These include Infogroup Inc., LHP Hospital Group, Jetro JMDH Holdings, Crestcom International, Generac Power Systems, Strongwood Insurance Holdings, Pinnacle Foods, Ollie’s Bargain Outlet, AMC Entertainment, and Octagon Credit Investors.
Murray was philanthropic during his lifetime and dedicated his time and resources to charitable initiatives that he believed would help the society. He was affiliated to Stamford Museum, Make-A-Wish Foundation based in Metro New York, Columbia Business School, and Boston College.