CEO and President of CCMP Capital Advisors resigned from his position with the firm due to health concerns only one month before his death at age 52. Both the company and the finance community mourn the loss of this great friend, dedicated business partner and devoted colleague.
Though more details on his illness have yet to be announced, his death on March 12th was in fact confirmed by CCMP’s spokeswoman Alexandra LaManna in an email.
CCMP’s current president and CEO, Greg Brenneman released a statement conveying his condolences, sending thoughts and prayers to his wife and sons. Brenneman went on to say, “We know they were his pride and joy.” Brenneman and the other partners are all so very grateful for Murray’s “positive contributions to the success of CCMP and its predecessors.” Read more: CCMP’s Murray dead at 52
Steve Murray managed to build up an astounding reputation as an incredible investor and deal maker with a special gift in private equity. As a founding partner, he watched the evolution of CCMP from its beginnings within JPMorgan Chase & Co. Specializing in mostly middle market leveraged buyouts and growth equity investments, Steve Murray helped the New York based firm to raise funds by $3.6 billion last year alone.
Usually investing $100 million to $500 million in equity with each transaction, the firm focuses mainly on businesses within consumer, industrial, health care and energy divisions. Murray’s deals with companies like Cabela’s Inc., Quiznos Corp. and Warner Chilcott Plc. Cemented his place as a heavy hitter on the finance arena. Learn more about Steve Murray: https://www.pehub.com/2007/10/5-questions-with-stephen-murray/
Growing up in the suburbs of New York City, he was never too far from home. Earning a Bachelor of Arts degree from Boston College and a Master of Business Administration from Columbia University, he was hired with Manufacturers Hanover Trust Co. as a credit trainee in 1984 where he soon soared to the vice president position in the middle market lending division.
By 1989, he had joined the company’s private equity and leveraged finance unit which preceded what would become CCMP years later.
2005 saw him named as head of the institution’s buyout business which spun into the CCMP we now know today just three mergers later. Initially, the deal was difficult for JPMorgan as they didn’t want to be perceived as prejudice when it came to their in-house firm.
However, the relationship strengthened in time. Along with a lasting legacy in finance, Steve Murray leaves behind the wife he loved so dearly and their four sons.