Stephen Murray was the Chief Executive Officer and President of CCMP capital. Murray was 52 years old when he passed away after working with CCMP for 16 years. He left CCMP Capital in February 2015 due to what the company described as “health-related” reasons, only to pass away a month later from an illness.
Murray was born in Brooklyn and brought up in Westchester County in New York. He held a BA degree from Boston College and an MBA from Columbia University in New York. He became a credit trainee at Hanover Trust Co., a New York-based manufacturer on Bloomberg.com, in 1984 and later became the vice-president of a middle-market lending firm. Murray joined a leveraged-finance and private equity unit of Hanover in 1989 that was the CCMP predecessor. In 2000, Hanover and JPMorgan merged and Murray became the head of buyout business of the bank in 2005.
CCMP Capital became the largest private equity company globally at some point under the leadership of Murray. This was after the spinoff of the group in 2006. Murray became the CEO of the group in 2007 as the successor of its founder, Jeff Walker.
As the CEO of the group, Murray held several board seats including Infogroup Inc., Crestcom International, LHP Hospital Group, Jetro JMDH Holdings, Ollie’s Bargain Outlet, Strongwood Insurance Holdings and Octagon Credit Investors.
While Murray was the CEO of CCMP Capital, the firm raised two additional multibillion-dollar funds. The latest of them was closed after gathering 3.6 billion dollars. His death saddened many people who expressed their gratitude for the positive contributions that he made at CCMP as well as its predecessors.
Many people, including Greg Brenneman, the Chairman of CCMP who succeeded Murray as the CEO and president of CCMP described him as a deal maker and a terrific investor. According to people who knew him well, Murray spent most of his career and time in private equity. He was talented at making deals that were beneficial to everyone involved. His unique dedication and commitment towards fairness was one of the reasons why he rose in ranks very fast in the private equity sector. CCMP Capital was shaped by the leadership of Murray to become one of the largest firms in the private equity industry.
Clearly, Murray understood private equity and how to ensure the success of CCMP Capital by making fair deals. Stephen Murray was one of the CCMP executives that were listed on the SEC filings for the $3.6 billion fund that was raised by the firm while he was the CEO.