Stephen Murray, was one of the most successful financial professionals in New York City when it came to mergers and buyouts, died last year at the age of 52. His death came just one month after he left the private equity group where he was the CEO for health reasons.
He had a storied career that spanned over 3 decades in the financial industry in NYC. He was also known to have a proclivity for charity as well and worked in many different philanthropic roles during his life.
He was raised in Westchester, NY, a prosperous suburban town near New York City. He left to pursue his education in 1980 at Boston College where he graduated in 1984 with a B.A. in Economics.
After that, he returned to New York City where he started his career while simultaneously studying towards his MBA at Columbia University in Manhattan.
Murray’s first job was in a trainee role in the credit department at the Hanover Trust. It was an auspicious start for the man who would rise through the financial ranks to become one of the most respected men in New York when it came to mergers and buyouts. His rise started very early at Hanover. He was promoted to Vice President of Middle-Market lending. Read more: CCMP’s Murray dead at 52
During this time he also joined a private equity group that was known to specialize in companies in mid-sized markets. This fund would grow over time and move with Murray throughout the banks that he worked for. it would later develop into what we now know as CCMP Capital. Learn more about Stephen Murray CCMP Capital: http://patch.com/connecticut/stamford/stephen-p-murray-52-financial-executive-stamford-resident-vice-chair-boston-college-board-trustees
Chase Manhattan and Hanover Trust merged in the mid-1990s. Stephen Murray transitioned with the merger and by 2000 was put in charge of all buyouts at Chase Bank. This is a role that he maintained while still running his fund under the Chase umbrella and JP Morgan & Chase.
CCMP was formed as a result of Chase merging with Bank One. Bank One already had an established private equity division. To prevent and conflict of interest between the CCMP fund and Chase’s new clients, the fund was spun out and named CCMP. The fund specializes in mergers and growth lending for most consumer companies.
Their typical transaction is between $100 million and $500 million making them one of the strongest funds when it comes to investing in mid-sized retail chains. The fund is said to be worth over $12 Billion.