Stephen Murray’s life and career as the head of CCMP
Stephen P. Murray, famously known as Steve Murray was an accomplished private equity investor as well as a philanthropist. He was the head of CCMP Capital which is a private equity firm that specializes in growth equity transactions and buyout. He passed away at the age of 52 on March 12, 2015. He had resigned a month prior to his demise due to health problems.
Stephen Murray CCMP Capital graduated in 1984 with a degree in economics from Boston College. He went ahead to study for a master’s degree in business administration at Columbia Business School and graduated in 1989.
His career journey started in 1984 when he joined Manufacturers Hanover Corporation and worked under the credit analyst training program.
Later, in 1989 moved to MH Equity Corporation which integrated the private equity group of his former employer with its financial unit. In 2005, Murray climbed higher the corporate ladder at JP Morgan Partners and became in charge of buyout business.
In 2006, while still working at JP Morgan, he joined forces with others and co-founded CCMP Capital which dealt with the buyout and growth equity team of the bank’s equity group. The following year, he was appointed the CEO of CCMP.
Steve Murray was there as CCMP went through different ownerships until it became a private entity in 2006. CCMP started out as Chemical Ventures Partners which was a section of Chemical Bank in the 1980s. Chemical Bank bought Manufacturers Hanover in 1991 and Chemical Venture Partners merged with MH Equity. Learn more about Stephen Murray CCMP Capital: https://www.pehub.com/2007/10/5-questions-with-stephen-murray/
Chemical Bank then merged with Chase Manhattan Bank and Chemical Venture Partners changed its name to Chase capital partners. After the Chase Manhattan bank merger, Chase became a section of J.P Morgan and Co. the buyout business was named J.P Morgan Partners and later CCMP.
Under his leadership, CCMP experienced great success as it raised two multibillion-dollar funds simultaneously. The last one closed at $3.6 billion. He was also famed to be a talented dealmaker and investor who was an authority in private equity where he spent most of his career years. The success of CCMP is attributed to Steve Murray’s outstanding leadership.
During his lifetime, he served on the board of big companies such as The Vitamin Shoppe, Aramark, AMC Entertainment, Cabela’s, Legacy Hospital Partners, Warner Chilcott, General Power Systems and Pinnacle Foods.
Besides being an influential businessman, Stephen Murray was also involved in various charity endeavors. He donated to Columbia Business School, Boston College, Stamford Museum, and Make-A-Wish Foundation. Indeed, Steve Murray was an extraordinary man who managed to remain humble and generous despite his stellar career achievements.