Stephen Murray: The Man Who Left an Investment Legacy
Stephen Murray CCMP Capital was spun out from JP Morgan in 2006 and is involved in leveraged buyouts and growth equity investments. The fund has raised a number of funds and its most recent one was last year where they raised $3.6 B. After the company was founded, it raised its first fund, which was about $3 B.
Greg Brenneman is the company’s Chairman and was appointed in 2008. The company’s name is derived from the names of the companies that merged to form it(Chemical, Chase and JP Morgan).
CCMP was spun off from JP Morgan because of the conflict of interest between JP and Its clients. Before the spin off, JP was relatively successful at making investments but at times they invested in the same companies as their clients. Stephen Murray CCMP Capital has a diverse portfolio and has invested in a number of high profile companies including Aramark, Renovo, Medspace and Vetco. The company has grown and expanded to house offices in Asia and Europe. It now has around $12 B in assets and has been recognized as one of the most successful funds.
A number of its investments have gone public, and some are in the course of doing so. Ollie’s Bargain and Milacron Holdings, Corp are on track to going public soon. Its Asian subsidiary has operated independently for the most part and in 2008, it was separated from the parent company and was renamed Unitas Capital.
The company typically invests over $100 million in companies, and it is involved in healthcare, energy and consumer sectors. One of the largest deals the company has been involved in was the sale of Medpace to Cinven last year for nearly $1B. The man who spurred the meteoric growth of the company is the late Stephen Murray.
Stephen Murray is the former CEO of CCMP Capital. Mr. Murray was born in 1962 and graduated from Boston College with a degree in economics and later earned his MBA from the Columbia Business School. He trained as an analyst after school and after a series of mergers at his company, he found himself at JP Morgan where he would oversee buyouts.
He is mostly known for his work at CCMP, which he cofounded and would become its CEO in 2007. He passed away earlier this year and left a legacy at the company. He is deeply missed by his colleagues, and the incoming CEO will surely have a hard time filling his shoes. Murray served on the boards of a number of companies such as AMC Entertainment, Aramark and Pinnacle Foods. He was also involved in philanthropy and charity and was affiliated with the Stamford Museum and the Make-A-Wish Foundation.