Stephen Murray passed away last February at the age of 52. He had recently left his position as CEO of CCMP Capital group just a month prior. He had a long career in the financial sector in New York City that was mostly focused on mergers and buyouts. He was also known as a great philanthropist. He served and worked for many different charitable organizations during his time in New York City. Despite his untimely death, Murray led a long and productive life and left a great legacy as a leader in growth investing in New York City.
Stephen Murray was born and was raised in Westchester, NY. Westchester is a nice suburb of the New York City. He did well in school there and later left to go to college. He moved to Boston to pursue his undergraduate degree in economics which he received in 1984. He then made the move back to New York City where he got his Master’s in Business Administration from Columbia University. He also started his fledgling financial career during this period. Learn more about Stephen Murray CCMP Capital: http://fortune.com/2015/03/13/ex-ccmp-capital-ceo-steve-murray-passes-away/
His first job after his undergrad was in the credit department at the Hanover Trust. He quickly showed a proclivity for finance and making great deals. Because of this, he quickly climbed the ladder at Hanover and was promoted to VP of Middle-Market investing in 1989. He also helped start a private fund during his time at Hanover that would later develop into CCMP 15 years later.
Hanover went through a few mergers during Stephen Murray’s time with the trust. This was until they were finally merged with Chase Manhattan Bank. The merger with Chase happened in 1996. Murray worked at chase in a similar role until he was put in charge of all buyout operations at J.P. Morgan & Chase in 2000. He earned this role by proving time and time again that he had a knack for making great deals when it came to mergers and buyouts.
CCMP Capital spun out from Chase in 2006 because the bank had bought out Bank One. It was thought that there would be a conflict of interest between the private equity divisions of both firms. To prevent that, CCMP was founded under the guidance of Murray. The fund is said to be worth about $12 Billion today. The average amount of investment transactions that they perform is around $100-$500 million per transaction.