The renowned economist and generous philanthropist Stephen P. Murray passed away on March 12, 2015, at the age of 52. Murray died shortly after leaving CCMP Capital. He left behind his wife Tami Murray with whom they were blessed with four children. He knew how to blend the family life and business.
Murray was an alumnus of the prestigious Boston College where he graduated with a degree in economics. He studied for his master’s in business administration and graduated in 1989 from the Columbia Business School.
The trained economist was widely recognized for his philanthropic deeds. Murray ran charitable activities that made him stand out during his time. Metro New York’s Make-A- Wish Foundation where he was a member of the chairman’s council benefitted greatly from his selfless giving. Other beneficiaries of his benevolence included The Food Bank of Lower Fairfield County and Stamford Museum. The Columbia Business School where he was the vice chairman of the board of trustees also received his generous gifts.
Murray rose from humble beginnings to become the President and Chief Executive Officer of CCMP Capital, a private equity firm whose core business includes business mergers, buyouts and growth capital operations. He dedicated his life to American Private Equity, philanthropy, and his family.
Murray started his career at Manufacturers Hanover Corporation (MHC) in 1984 in the Credit Analysis division.MH equity division which resulted from the merger of Manufactures’ Hanover private equity group and its leveraged investment unit beckoned him in 1989. Murray joined the new merger and grew it to deep levels. A year later saw the Hanover being bought by the Chemical Bank creating a new merger between Manufacturers Hanover and Chemical Ventures. It brought about a name change, and hence called Chase Capital Partners.
Being the astute Economist that he was, he was called up to join JP Partners as the head of business buyouts in 2005. He took the opportunity and turned the company into a lucrative venture. It was here that he Co- founded the CCMP Capital which was a partnership between the buyout and the growth equity of the private equity group. He rose to become the CEO in 2007.
Murray was often called upon to sit in boards of notable companies such as the Legacy Hospital Partners on LinkedIn where he provided insightful advice. The other leading companies whose boards he sat in include the Aramark, Generac Power Systems, Entertainment, The Vitamin Shoppe, Cabela’s and Pinnacle Foods.
Murray will be remembered for his economic prowess and generosity which made him stand out from the crowd.