One month after Stephen Murray resigned as CCMP Capital’s Chief Operating Officer due to health-related reasons, he died at the age of 52. According to Alexandra LaManna, CCMP Capital’s spokesman, Murray died on March 12th, 2015. Alexandra confirmed Murray’s death in an email but did not clarify why Murray resigned as CCMP’s CEO.
Stephen Murray became CCMP Capital’s founding partner in 2006 after it spun out of JPMorgan Partners to avoid potential conflicts with its clients. CCMP Capital specializes in middle-market private equity investments and leveraged buyouts. According to the latest financial report, CCMP generated over $3.6 billion in the past year.
In an email statement, CCMP Capital’s spokesman, Alexandra LaManna said that Stephen Murray’s death saddened them. He added that Murray was a prominent investor and a deal-maker who would always settle on a win-win deal. According to Institutional Investor Magazine’s article dated 2011, Stephen Murray grew up in Westchester, New York. He attended Boston College to pursue a Bachelor degree in Arts. Later on, Murray joined the Columbia University of New York for furthers studies in Business Administration.
Stephen Murray’s career began as a credit trainee at a New York-based Manufactures Hanover Trust Company before his way up as the Vice President of middle-market lending. In 1989, Murray left for CCMP Capital’s predecessor as an executive in private equity and leveraged buyouts. However, the firm was acquired by JPMorgan in 2000. Later on, in 2005, Murray was appointed as the head of JPMorgan Partners. CCMP Capital, previously known as JPMorgan Partners would invest in middle-market financing units and private equity funds.
Under Stephen Murray’s regime, CCMP Capital generated over $3.6 billion as its latest fund in 2014. Murray is one of the smartest financial experts in CCMP Capitals, having featured in the company’s SEC list. As of 2014, Murray’s board constituted of Ollie’s Bargain Outlets, LHP Hospital Group, Crestcom International, and Octagon Credit Investors. Although CCMP Capital hinted that Stephen Murray resigned due to health-related issues, the company declined to comment on whom might succeed him as the next Chief Operating Officer.
CCMP Capital’s spokesman eulogized Stephen Murray as a family man and a dedicated professional. As the founding partner of CCMP Capital, Stephen Murray would always settle for the win-win deal, even in hostile circumstances. Besides family, Murray would spend a significant portion of his practice in helping CCMP Capital develop. His contribution towards the success of CCMP Capital is noteworthy.