Former CEO of Stephen Murray CCMP Capital Advisors has passed on at age 52. This has been announced by the firm’s spokesperson via email and no additional information was released.
Mr. Murray, who worked for the company for almost 25 years, resigned from his office about one month ago due to health-related issues, as reported on Fortune.
Chairman Greg Brenneman stood in for Mr. Murray and carried out his duties after he resigned.
Mr. Brenneman wrote a statement stating how grieved they felt upon learning the demise of their friend plus former workmate Steve Murray. He conveyed his condolences, thoughts as well as prayers to his wife and kids and said that Murray’s wife and two sons were his source of pride and happiness. Steve Murray was a founding member of CCMP capital and a great investor as well as strategist who spent most of his profession in private stock. Mr. Brenneman also said that he was grateful for Murray’s positive participation to the accomplishment of CCMP alongside its predecessors.
Mr. Murray joined CCMP in 1989 and worked with the firm as it experienced various major alterations in ownership, till it finally became an independent company in 2006.
CCMP’s origins can be traced back to early 1980s, beginning with Chemical venture Partners, a section of Chemical Bank. A fusion between bank owning firm Manufacturers Hanover Corp. and Chemical Bank made Chemical Venture Partners and MH Capital Partners to come together.
When Chemical Bank fused with Chase Manhattan Bank, as well as Chase became a tentacle of J.P Morgan & Co., the buyout company became recognized as J.P Morgan Partners.
In 2005, Mr. Murray was appointed the head of buyout firm at J.P Morgan Partners, and went on leading the company when it was spinning out in 2006.
When Murray left J.P Morgan, CCMP subsequently raised 2 additional multibillion-dollar funds, the newest of which was concluded in September after collecting $3.6 billion.