CCMP Capital recently announced the untimely passing of its CEO Stephen Murray, 52. Murray served as CEO of the private equity firm for over 15 years.
It was reported last month that Murray had stepped away from his duties temporarily due to an undisclosed medical condition. Murray joined CCMP Capital after the spin-off from JP Morgan Partners. The company became Chase Capital Partners then changed to its current name in 2007. Read more: West Village Townhouse for $17 Million and 5 Questions with Stephen Murray, CEO of CCMP Capital
Stephen Murray is credited with helping build CCMP into one of the largest private equity firm in the world. His over two decades of experience helped the company forge many partnerships and maintain great relationships with trusted clients.
“Our hearts are very heavy today. Stephen was a great friend and colleague, and we send our heartfelt condolences to his family,” said interim CEO Greg Brenneman. Murray is survived by a wife and two sons.
Stephen Murray sat on a number of boards including Merchant Bank, Crestcom International, Ollie’s Bargain Outlet and Octagon Credit Investors.
“Stephen was a tremendous asset to the company and will be sorely missed,” said Brenneman. After being installed as CEO, he spearheaded raising $3.6 billion in capital, which gave CCMP a new identity. It was always Murray’s goal to build CCMP into a powerhouse that could work alongside other more established investors. Learn more about Stephen Murray CCMP Capital: http://observer.com/2015/02/this-old-thing-private-equity-honcho-drops-little-place-uptown-for-11m/ and http://culturebytes.org/the-exponential-growth-of-ccmp-capital-under-stephen-murrays-leadership/
Murray’s first affiliation with CCMP was in 1989. Not long out of college, he joined the firm and worked his way through the ranks. “He was a professional in the truest sense,” said a former colleague. Murray was known to have valuable insight regarding all things finance. The vast majority of his career was spent in private equity, and at the time of his death, he was considered an industry pioneer.
Peers say they will remember him as a great investor who loved to make deals.