Why the Legacy of Stephen Murray is Entangled with that of CCMP Capital

The gap created in the private equity sector by Stephen Murray still lingers more than a year after his demise. Murray had dedicated about 16 years of his life to CCMP Capital. Until date, he is highly acknowledged for spearheading the creation of CCMP Capital as well as its growth and development. Before his death, Murray had led the New York City-based Private equity company into raising about $3.5 billion for a new fund. Both Murray and Chairperson Greg Brenneman were the only two CCMP’s executives recognized on SEC filings for CCMP Capital’s new fund.

Stephen Murray is one man who had witnessed the different transformations experienced by CCMP Capital’s predecessor companies or firms as a result of mergers and acquisitions. Murray’s career in 1989 after joining MH Equity Corporation, which comprised of an integration of its leveraged finance unit with Manufacturers Hanover’s private equity section.

Transformations Experienced before the Formation of CCMP

In 1991, Chemical Bank acquired Manufacturers Hanover while Chemical Venture Partners and MH Equity merged. Later in 1996, Chemical Bank initiated a merger with Chase Manhattan Corporation. This led to the transformation of Chemical Venture Partners to Chase Capital Partners on nypost.com. After J.P.Morgan had acquired Chase Capital Partners, the name changed to JP Morgan Partners. Murray was appointed as the head of buyout business at the firm in 2005. For a duration, it was one of the top largest private equity firms in the world.

In 2006, Stephen Murray assisted in the inception of CCMP Capital. CCMP Capital is a spinout entity of JP Morgan Chase. Later in 2007, Murray was appointed as CCMP’s chief executive officer to success Jeff Walker. After assuming the CEO role, Murray led the company to greater achievements with about $12 billion in terms of growth capital and leveraged buyout transactions.

Board Membership Positions Held by Murray

Before his death, Murray played not only a significant role in the success of CCMP Capital but also in the success of other organizations. Some of these entities include LHP Hospital Group, Jetro JMDH Holdings, Infogroup Inc., Crestcom International, Strongwood Insurance Holdings, Ollie’s Bargain Outlet, and Octagon Credit Investors among others.

Murray’s Death

On March 13, 2015, Greg Brenneman, who succeeded Murray as CCMP’s CEO and president, divulged information about Murray’s demise. This situation happened after Murray had left the company citing health issues. On behalf of CCMP Capital, Greg expressed sincere condolences to Murray’s family including his wife and sons. He also described Murray as a deal maker and terrific investor who had spent a significant part of his career in private equity.

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