In February, CCMP Capital Advisors’ chief executive officer resigned from the buyout firm due to mounting and mysterious health concerns. At only 52 years of age, Mr. Murray passed away on March 12th. While other details were not made available, the New York based company’s spokeswoman, Alexandra LaManna did confirm this much.
As a founding partner of CCMP, Steve Murray created JPMorgan Chase & Co back in 2006 in order to steer clear of the potential conflicts of interests with clients of the renowned bank.
From Day One CCMP has been particularly able in terms of middle-market leveraged buyouts and growth equity investments. In fact, these assets managed to raise their latest funds to $3.6 billion last year alone.
However, Steve Murray was so much more than a former partner with unparalleled skillsets. He was a dear friend who so very many both admire and mourn. The firm’s CEO released a statement remembering his friend and former partner, “Steve Murray was a terrific investor and deal maker.” Read more: http://www.nytimes.com/2015/03/01/realestate/west-village-townhouse-for-17-million.html?_r=0 and Exclusive: CCMP Capital CEO Stephen Murray leaves firm
According to Xrepublic, the New York company invests $100 million to $500 million of equity with each transaction focusing on business in the consumer, industrial, health care and energy sectors. Some better known investments include Cabela’s Inc., Quiznos Corp. and Warner Chilcott Plc.
Late founding member, Stephen Murray was raised in the NYC area in a suburb of Westchester County. Upon earning a Bachelor of Arts degree from Boston College and a Master of Business Administration from Columbia University in New York, Murray was eventually hired as a credit trainee for Manufacturers Hanover Trust Co. Learn more about Steve Murray: http://fortune.com/2015/02/17/exclusive-ccmp-capital-ceo-stephen-murray-leaves-firm/
He was ultimately promoted to the esteemed position of middle market lending vice president before joining the private equity and leveraged finance unit of Manufacturers Hanover (which preceded CCMP.)
Though this purchase angered many competitors like KKR’s founder Henry Kravis, these relationships are seemingly better now and considered better separate than together.
Stephen Murray is survived by his wife Tami A. Murray of Stamford, Connecticut and their four sons.