Stephen P Murray was an American entrepreneur who dealt in private equity investment. He is also known for his philanthropic activities. He was born on 2nd August 1962 to a humble family. He was brought up in a suburb in Westchester County in the city of New York. He went to Boston College where he pursued a degree in Economics. He graduated in the year 1984. Later, he joined Columbia Business School and Graduated with a master’s degree in Business Administration.
His career began immediately after graduating from Boston College. In 1984, Murray landed an opportunity with Manufacturers Hanover Corporation and joined a team tasked with credit analysis in the company. In 1989, Murray joined MH Equity Corporation. This corporation was the combined form of Hannover’s private equity group and its finance unit. Chemical Bank purchased Hannover Manufactures in 1991. In 1996, Chemical Bank and Chase Manhattan Corporation created a merger and consequently, Chemical Venture Partners was absorbed by Chase Capital Partners. In the year 2005, he became the head of buyout business at JP Morgan’s Partners. Later, in August 2006, Murray co-founded CCMP Capital. This company was a spill out from the JP Morgan’s enterprise. In the year 2007, he was appointed the Chief Executive Officer. Still, as the CEO of this company, he held other positions in different organizations. Stephen Murray CCMP Capital got to sit as a board member in various major businesses that includes, Aramark, Generac Power Systems, AMC Entertainment, The Vitamin Shoppe, Warner Chilcott just to mention but a few.
Read more: CCMP Capital Advisors Gets Backing to Resume Investing From Fund
Since its inception, under his leadership, Murray drove the company to a net worth of billion dollars. In a previous statement, he said that the spill out that resulted in its formation was necessary. It would ensure there were no conflicts with the banks’ client. CCMP Capital specialized in leveraged buyouts and investments in the equity industry. The company, in the last year alone, raised funds to a value of 3.6 billion dollars.
According to the company’s website, it invests equity that ranges from 100 to 500 million dollars. The company has focused its investments in the energy sector, consumer, industries and healthcare sectors.
Stephen Murray also lived a philanthropic life. He funded New York-based Foundation, Make A Wish. At Boston College, he acted as the vice chairman of the board. He was also a director of Make A Wish Foundation. He donated funds to Stamford Museum, Columbia Business School, and the Food Bank of Lower Fairfield County. He was married to Tami Murray and was a father of four. He passed on, on March 12, 2015.
Learn more about Stephen Murray: http://blogs.wsj.com/privateequity/2015/03/13/former-ccmp-ceo-stephen-murray-dies-at-52/