CCMP Capital lost a pioneer in the world of investing. Company CEO and co-founder Stephen Murray died over the weekend, according to the Wall Street Journal. He was 52. The news of his untimely death has rocked the investment world and has left the highly-successful corporation scrambling to keep its footing.
Murray took a leave of absence two months ago for what was reported as a “medical issue.” He was expected to be back at work some time this month.
“We are saddened to announce the death of our friend and college Stephen Murray,” said interim CEO Greg Brenneman. “Our deepest condolences go out to his family and friends.” Read more: Stephen P. Murray – President @ CCMP Capital Advisors
Murray helped the company grow into one of the top ten investment firms in the world after its spin-off from J.P. Morgan Advisors. “The man knew everything there was to know about investing,” said colleague Alexandra LaManna.
CCMP Capital, which specializes in hedge funds, money markets and leveraged buyouts, had a record year with raising $360 billion in investments. Murray is credited with helping the company secure massive assets.
Murray grew up in Westchester, New York. He graduated with business degrees from Boston College and Harvard Business School.
After college, Stephen Murray found a job at Hanover Manufacturer’s Corporation. Once he completed an internship in the credit analyst training program, he was invited to join the private equity group. The company went through several acquisitions and mergers with Chemical Bank, Chase Manhattan Bank and Chase Mortgage Partners.
He was named CEO of the newly founded CCMP Corporation after the J.P. Morgan spin-off.
Stephen Murray sits on a number of local boards including Warner Chilcott, Pinnacle Foods and the Vitamin Shoppe. He was known as a generous philanthropist that gave to a number of local organizations for the needy.
Funeral plans have not been announced.