In 2014, Stephen Murray, the former CEO of CCMP Capital raised $3.6 billion for the Investors III Fund. He was enthusiastic about closing the deal and credited its success to the CCMP team and the firm′s proven track record of generating positive returns on their investments.
Mr. Murray looked forward to the fund delivering consistent ROI for the investors and partners. Five months later after the deal closed, he resigned as Chief Executive Officer because of health conditions (read more: Stephen P. Murray, 52; Financial Executive; Stamford Resident; Vice Chair Boston College Board of Trustees). The following month in 2015, Mr. Murray passed away in his hometown, leaving behind beloved ones, including his wife, children, parents, partners, and co-workers.
According to Fortune Magazine, Mr. Stephen Murray was one of the key men named in the Capital Investors III Fund. Other key men included in provisional clauses of the fund were Greg Brenneman and certain members of the investment committee.
Mr. Greg Brenneman was named the new chief executive officer of CCMP months after the passing of Mr. Murray. He has been with CCMP for eight years and is the Chairman, President, and serves as a member on the Investment Committee. The investment period for the fund was reinstated and the firm planned to purchase the stake of Mr. Murray in the fund, based on a memorandum provided by one of the investors. Read more: Ex-CCMP Capital CEO Steve Murray passes away
Little information is provided to the public concerning finalizing the purchase of Stephen Murray′s interest. The key men of the CCMP Capital Investors III Fund promised to provide $60 million to the fund for added capital to cover any risks and to purchase the stake of Mr. Murray. The provisional clauses in the Investors III Fund agreement was amended to include Douglas Cahill and remove Joe Delgado. In one of the concessions, principles of the fund committed to $200 million to the fund.
Stephen Murray was born and raised in New York and attended Sleepy Hollow High School. He later attended Boston College and Columbia Business School, where he earned his bachelor′s degree and master′s degree in economics. From the beginning of CCMP Capital formation, Mr. Murray was one of the key men of investments funds.
He served as the firm′s chief executive officer for nearly eight years and faithfully oversaw the operations of CCMP Capital and its strategies. Mr. Murray is missed dearly by family members, colleagues, friends, partners, and the community.
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