Longtime chief executive officer of CCMP Capital Advisors, Steve Murray resigned just one month before his passing at age 52 due to growing health concerns. While more details have been hard to come by, the New York based buyout firm did have their spokeswoman, Alexandra LaManna confirm in an email that Murray did indeed die on March 12th.
As a founding partner of CCMP, he witnessed the evolution of the firm as it spun from JPMorgan Chase & Co. back in 2006 to steer the company away from conflicts of interest among the bank’s clientele. With a specialty in middle market leveraged buyouts and growth equity investments, Steve Murray expertise assisted CCMP to raise their funds by $3.6 billion last year alone.
Greg Brenneman, CCMP’s current CEO conveyed in a recently released email just how very saddened that he and the other colleagues are for the loss of their friend and former partner. Looking back in admiration, he said, “Steve was a terrific investor and deal maker.”
Investing from $100 million to $500 million in equity with each transaction, the finance firm focuses mostly on businesses within the consumer, industrial, health care and energy sectors.
Guiding the firm through the storm from Day One, Stephen Murray helped to invest in heavy hitters like Cabela’s Inc., Quiznos Corp. and Warner Chilcott Plc. His wise fiscal decision making earned himself and his company a superb reputation among both competitors and colleagues. Read more: Exclusive: CCMP Capital CEO Stephen Murray leaves firm
Having been raised in a New York City suburb in Westchester County, Murray went on to Boston College where he earned his Bachelor of Arts degree and later a Master of Business Administration from Columbia University. By 1984, he was hired as a credit trainee with the Manufacturers Hanover Trust Co. where he was ultimately named vice president of middle market lending.
According to New York Times, Joining a private equity and leveraged finance division of the company in 1989, Stephen Murray became a founder of the predecessor to what is now CCMP.
After being named head of the bank’s buyout business in 2005 prior to the final spinoff, he cemented his place among middle market deal makers with doting private equity clients for years to come. Learn more about Steve Murray: http://fortune.com/2015/03/13/ex-ccmp-capital-ceo-steve-murray-passes-away/
Though things were bumpy initially due to the struggles with perceptions of favoritism with the in-house firm, the company gained strength as a separate entity. Along with his lasting legacy in the industry, Murray is survived by his wife and four sons.