Philanthropist Steve Murray Passes Away One Month After Resigning From CCMP

CCMP Capital Advisors was the in-house investment branch of JP Morgan Chase from 1984 until 2006. At that point it separated from its parent company entirely and has since become a well-known buyout firm with billions of investments made in the last decade.

The company focuses on the retail, healthcare and energy industries and helps to revive stumbling businesses that have equity and potential. The company has been operating until recently under the direction of co-founder and CEO Stephen Murray CCMP Capital. He took over the reins from the founder in 2007.

Stephen Murray was a Boston College graduate with a degree in economics. He worked his way up through the financial industry where he came to be known as a shrewd investor. The decision to spin out CCMP and make it entirely independent from JP Morgan Chase was made because of complaints of unfair dealings.

It was believed that the appearance of JP Morgan potentially favoring their in-house firm over others bidding on the same prospects could lead to unnecessary complications. Despite the separation, the two companies continued to work together amicably throughout the last 10 years.

Prior to becoming CEO of CCMP, Stephen Murray also served on the boards of a number of leading companies including Cabela’s, the Vitamin Shoppe and Aramark among many other. In 2015 Steve Murray took a leave of absence from his position stating health concerns.

Few people in the industry suspected the health concerns to be as serious as they ultimately were. He passed away just one month later at the age of 52. He left behind four adult sons and his wife of 29 years, Tammi Murray. Learn more about Stephen Murray CCMP Capital:

He will be remembered for his successful career, but also for his many philanthropic causes that included contributing to the Make a Wish Foundation as well as donating regularly to local museums and food banks.