The Chief Executive, Stephen Murray, CCMP Capital Advisors, has died at 52 years, according to Fortune. Before passing on, Murray was ailing and this forced him to resign from his work.
He passed away on March 12, and was officially communicated by CCMP Capital spokesperson, Alexandra LaManna through an email. Additional information was not accessible.
Murray was among the establishing associates of CCMP that grew from JPMorgan Chase & Co. in 2006 to avert prospective clashes with the customers of the bank. CCMP, which focuses in middle-market leveraged acquisitions and growth-equity funds, raised its new fund the past year with $3.6 billion.
Greg Brenneman, the company’s CEO, on Friday said through an email report that they were extremely saddened to know that their friend as well as former partner, Steve Murray, had died. Greg also added that Murray was a great investor plus deal maker.
CCMP normally invests $100 million to $500 million of capital per transaction, as shown on its website. It concentrates on businesses in end user, industrial, medical care as well energy sectors. It moreover has interests in Cabela’s Inc., Quiznos Corp. plus Warner Chilcott Plc.
Murray was brought up in a New York City district in Westchester County, New York, as per a 2011 article published on Institutional Investor magazine. He attained an undergraduate degree in Arts from Boston College plus a Masters of Business Administration from Columbia University in New York. This was as reported by CCMP.
In 1984, Murray was appointed as credit apprentice at New York Manufacturers Hanover Trust Co., Institutional Investor stated. He escalated to the position of Vice president for middle-market loaning, as reported on a CCMP biography. In 1989, Murray was hired by a private capital as well as leveraged-finance division of Manufacturers Hanover, which was a forerunner of CCMP.
Murray was appointed the leader of the bank’s acquisition business in 2005. JPMorgan Partners, as CCMP was acknowledged prior to its sequel, was long recognized for financing middle-marketing deals plus the bank’s private asset clients.
The acquisition incensed KKR co-founder Henry Kravis, who cautioned the bank from contending with KKR if it intended to continue conducting business deals with his company, as per “King of Capital,” a 2010 book authored by David Carey plus John E. Morris.