One of the most successful CEOs in the financial industry of New York who always took the time to give back to the community is dead. Stephen Murray, who served as the longtime CEO of CCMP Capital passed away from health complications at the age of 52 in February of last year.
Stephen Murray has left a huge whole at the private equity group where his colleagues say that he was one of the best deal makers that they had ever known. His storied career in investing and deal making, coupled with his philanthropic efforts, make him one of the most intriguing financial professionals in New York. Learn more about Stephen Murray CCMP Capital: http://observer.com/2015/02/this-old-thing-private-equity-honcho-drops-little-place-uptown-for-11m/
Childhood and Education
Murray was actually born and raised in New York. He was raised in Westchester, NY and lived there until he left to get his education. He had a strong education. He first got his bachelor’s in economics in 1984 from Boston College. After that, he moved back to New York where he got his MBA from Columbia College. He also started his professional career during the time where he was getting his MBA.
Hanover Trust Co.
Stephen Murray’s first job out of college was working as a credit trainee at Hanover Trust Co. in New York City in 1984. He had success at the firm right away. It took him just 5 years to climb the ladder at the company and become VP of Middle-Market Lending. During this time he also became a part of what would later develop into the CCMP fund after a few mergers.
Murray worked at Hanover until 1996 when the company merged with Chase Bank Manhattan. After a few other mergers, he became a part of Chase Bank. In 2005 Chase Bank put him in charge of all buyout activities at the bank as this type of deal had become something that he was very skilled at. This is especially true in the retail and the healthcare markets.
In 2006, CCMP struck out from Chase bank to prevent conflict of interest after a merger with Bank One and their private equity division. This fund was most designed to perform mergers and growth investing for mid-size to large corporations nationwide.
Some of the biggest companies that CCMP has invested in are Quiznos, Cabela’s, and Guitar Center. The funds typical investment for each transaction is between $100 and $500 million. They fund is estimated to be worth about $12 billion. Murray retired from the firm due to health complications last January and died the next month.