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Stephen Murray Is Remembered For His Work At CCMP Capital

Stephen Murray was a longtime leader of private equity firm CCMP Capital, a company he spent nearly his whole career building. Murray knew how to spot great investments and make tremendous business deals, and became highly respected in the fortune 500 industry. Many business television networks point to Murray’s legacy as an honorable one, and he was also a philanthropist and father of four. Murray held two degrees in business from Boston College and Columbia University.

Stephen Murray was raised in the heart of New York City and chose economics and finance as his career. Stephen Murray started off at Manufacturers Hanover Corporation, a private equity firm that would face several mergers from large investment banks. He originally enrolled in the credit analyst training program, but soon moved into the buyout division where his career would take off. Manufacturers Hanover had become a part of Chemical Bank of Manhattan, which would later merge with Chase Manhattan and then JP Morgan. Murray’s unit was owned by JP Morgan, but in a sense it operated as its own entity during this time.

Read more: CCMP Capital Advisors Gets Backing to Resume Investing From Fund

Murray helped grow the portfolio of JP Morgan and Partners, raising $5.4 billion in investor funds around the year 2002, and soon it began acquiring major companies. Companies it owns include Cabela’s, Quizno’s Subs, Ollie’s Bargain Outlet, and Warner Chilcott Corporation. It was the purchase of the Warner Chilcott that eventually led to the separation of JP Morgan and Partners from the main bank as several of JP Morgan’s clients objected to the acquisition. But Stephen Murray said the separation may have strengthened the relationship between him and the bank in the long run.

Murray’s division then became known as CCMP Capita, a combination of the banks that had owned it in previous years. During Murray’s time as CEO of CCMP Capital, the company raised about $7 billion in public offerings and funding. In February of 2015 Stephen Murray CCMP Capital stepped down from the company due to health reasons, and one month later he passed away. The new CEO Greg Brenneman has vowed to continue Murray’s goals and vision for the company.

Learn more about Stephen Murray: http://blogs.wsj.com/privateequity/2015/03/13/former-ccmp-ceo-stephen-murray-dies-at-52/

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