Stephen Murray, former CEO of New York-based CCMP Capital Advisors, died at the age of 52. He resigned from his position just one month prior to his death, citing his health issues. He was replaced by Chairman Greg Brenneman who has expressed deep condolences on behalf of the company.
Stephen Murray CCMP Capital had spent a very successful career in finances, mostly in private equity. In the early 1980s, Chemical Venture Partners started CCMP as one of its branches. For the next several years, it exchanged hands several times, always remaining a branch of an owning company.
Murray joined the team in 1989. Since that time CCMP made a big name for itself, investing in big companies such as concession operator, Aramark and Warner Chilcott. In 2005 he became part of a team to engineer a buyout from the current owning company, J.P. Morgan.
This move was a practical measure for both companies since it would alleviate the existing conflicts the bank. In 2006 he helped lead the company to become an independent company for the first time. In 2007 he was made CEO of the new company. During his time as leader of CCMP, he helped it to raise multiple billion dollars per year.
It continues to be a big investor, commonly investing up to $500 million per transaction. Murray was born and raised in Westchester County, New York. While attending Boston College, he earned a B.A. degree. At Columbia University in New York, he earned a Master of Business Administration.
In 1984, he joined the team of Manufacturers Hanover Trust Co. as a credit trainee and quickly ascended in the company ranks to become its vice president. In 1989, he joined the private equity company that would one day be known as CCMP.
As mentioned, Stephen Murray was instrumental in helping the company grow and to eventually become independent. Until his untimely death, Murray lived in Stamford, Connecticut with his wife, Tami, and four sons.
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