CCMP is one of New York’s largest equities capital firm, having a strong presence in stock market indexes, and a great team of leaders that know the waters of finance. It was formerly owned by JP Morgan & Chase Bank of Manhattan, but now it’s an independent company that makes business buyouts and conducts trades. CCMP’s latest closing fund reached $3.6 billion near the end of last year and Stephen Murray CCMP Capital reached now to $7.5 billion in total funds management. CCMP is headed up by Chief Executive Officer Greg Brenneman and Executive Director Tim Walsh. But the man who founded CCMP Capital and made it what it is today, Stephen P Murray just passed away last spring. It was known that Murray had cited a leave of absence due to some health issues, but his death was a shock to those that knew him.
Stephen Murray CCMP Capital on ccmpcapital grew up in the suburbs of New York City and attended Boston College to get his business degree. He got into investment banking shortly afterward when Hanover Manufacturers, soon to become Chemical Bank hired him. Murray took control of asset managing right away, overseeing the bank’s portfolio and making a name for himself as an investor. The Chemical Bank changed hands twice as Chase of Manhattan bought them in the 90s, only to then be taken over by JP Morgan in the 2000’s. While with JP Morgan, Murray started managing private equities and soon he became head of a buyout division that would make some key acquisitions for JP Morgan.
However, one big acquisition that had some of JP Morgan’s clients upset was an Irish pharmaceutical company called Warner Chilcott, now known as Actavis. Murray did what he thought was a good thing for the healthcare industry by making the buyout, but JP Morgan’s client threatened to discontinue business, so the buyout division split apart from JP Morgan. They then became CCMP Capital, an abbreviation that stood for Chemical, Chase, JP Morgan and partners to combine all the banks that had previously owned them. The firm still continues to work closely with JP Morgan, and Murray has actually said that he’s felt this separation has actually improved relations between CCMP and JP Morgan. CCMP continued its private equity transactions and today, their investments portfolio has some premier corporations such as PQ Corporation, Cabela’s, IMO Car Wash, Pure Gym and Quizno’s. Though the loss of Murray has been hard, his legacy will forever be embedded in the company.