CCMP Capital: The Legacy of Stephen Murray

CCMP Capital, the private equity firm that separated from J.P. Morgan Chase in 2006, focuses their investments on growth capital and leveraged buyout transactions. Having invested roughly $12 billion in leveraged buyout and growth capital since its creation in 2006. Stephen Murray CCMP Capital was considered to be one of the 20 largest private equity funds as far back as 2007.

CCMP has a long and storied history and has had several name changes in the last two decades. Originally known as Chemical Venture Partners founded in 1984, it was the private equity and venture capital arm of Chemical Bank on wsj.com. Since that date CCMP has been known by different names and its history is as storied as any on Wall Street having integrated many of the most well-known private equity firms in the world.

Chemical Venture Partners became Chase Capital Partners after Chemical Bank was acquired by Chase Manhattan Bank in 1996. In the same way Chase Capital Partners became J.P. Morgan Partners after the acquisition of J.P. Morgan and Company by Chase Manhattan Bank. The fund continued to grow primarily through its ability to integrate other private equity funds such as: Manufacturers Hanover, Robert Fleming and Company, The Beacon Group, Hamrecht & Quist and the previously mentioned J.P. Morgan and Company.

J.P. Morgan Chase acquired Bank One in 2004, One Equity Partners the private equity investment group operated by Bank One was chosen to be the primary private equity fund for J.P. Morgan Chase. This led to J.P. Morgan Partners to initiate plans to spin out of J.P. Morgan Chase. The spin out was initially announced by J.P. Morgan Partners in 2005 and completed in the summer of 2006. J.P. Morgan Partners became CCMP an acronym adopted in reference to the primary funds that formed the core of the new company: Chemical Bank, Chase Manhattan and J.P. Morgan partners.

CCMP completed their spin out at a time when many other private equity investment groups were also spinning out from top investment banks such as: Morgan Stanley (Metalmark Capital), Citigroup (Court Square Capital Partners) and Credit Suisse First Boston (Diamond Castle Holdings and Avista Capital Partners).

Sadly, CCMP lost one of its founding members and longtime Chief Executive Officer, Stephen P Murray earlier this year. Mr. Murray began his career with Manufacturers Hanover in 1984, joined MH Equity Corporation in 1989. When Manufacturers Hanover was acquired by Chemical Bank in 1991 MH Equity was merged with Chemical Venture Partners and Mr. Murray stayed on with the new firm. By 2005, Mr. Murray became the head of buyout business for them now named J.P. Morgan Partners. Mr. Murray co-founded CCMP Capital in August 2006 and became its Chief Executive Officer in 2007 and remained with the company in that capacity until shortly before his death.

Mr. Murray was considered to be one of the best deal makers in private equity investing he also served on the board of many major companies and was a noted philanthropist.

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