The hedge fund industry has its rock stars like all industries. The music business doesn’t have an exclusive on brilliant talent and awarding-winning intuition. The people that choose to be hedge fund managers are a select breed that eat, sleep, and drink the art of the deal. Stephen Murray, the former CEO of CCMP Capital, was one of those people.
Stephen Murray cut his investment teeth at Manufacturers Hanover Trust Co. in 1984, after earning a Master’s in Business Administration from Columbia University. Murray was a New Yorker through and through, but he did attend Boston College to get an undergraduate degree. But his love affair with Boston was short-lived. He wanted to work where he was born. And, while he worked for Manufacturers Hanover Trust, he made a name for himself in investment circles.
The world of investing is constantly changing, and the companies involved in multi-million dollar investments are constantly reinventing themselves in order to stay current in the marketplace. When Manufacturers Hanover Trust merged with JP Morgan in 2000, Stephen Murray became a Vice-President because of his successful investment record.
But investment firms are always under some sort of scrutiny, and the new JPMorgan company was no exception. Possible conflict of interest allegations were being tossed around, and the executives of JPMorgan decided to start another company that had solid investment professionals doing trades.
The partners named Stephen Murray, the squeaky clean manager, the president and CEO of the new company. The partners called the new company, CCMP Capital, and Murray started putting $100 to $500 million deal together as soon as the print on the company’s SEC license was dry.
It didn’t take CCMP Capital long to make a dent in the hedge fund industry, thanks to Stephen Murray’s leadership and investment skills. Murray and his partners had some excellent asset management years from 2009 to 2014. Life was good, and Murray was on top of his game until he started to feel like something was wrong with him. In 2014, he got too sick to work.
The prognosis wasn’t good, according to some of Murray’s associates, but CCMP Capital continued to prosper thanks to the foundation Murray put in place. In 2015, Stephen Murray passed away, and it was a dark chapter in the history of CCMP Capital.
Stephen Murray was the rock star that kept the company strong. But before Murray got sick, he put a team together that could carry on without him and not miss anything but him.
Read more: CCMP’s Murray dead at 52