Private equity firms have greatly helped companies not publicly listed at the Bourse to grow significantly because of the monetary capital in which the private equity firms inject into the private companies for its growth and overall operations. Private equity investments also help wealthy individual investors as well as institutional investors acquire a stake in the private companies and earn profits from their growth and improvement. Therefore it is prudent for both individual and institutional investors interested in private equity investments to get an experienced firm to do it on their behalf.
One of the firms that has managed to stand out due to the success in the investments that it has made is leading private investment firm CCMP Capital. The firm has grown over a period of 30 years into one of the best firms engaging in private equity investments in the United States. The executive members of the firm have immensely contributed to the growth of this firm due to the experience that they have individually acquired over time. Also, the adherence to proper financial ethics has set them apart from the rest in that it has increased investor confidence in them. Previously the company was known as Chemical Venture Partners which served as a private equity investment branch under Chemical Bank. The firm has changed its name a number of times due to successful acquisition changing to JP Morgan Partners before it became CCMP in 2006.
The success of this firm over the last three decades can be credited to the former Chief Executive of the firm Mr. Stephen P. Murray. Unfortunately, the death of the former astute CEO robbed the firm and the entire business community in the United States as reported by the Wall Street Journal, a towering figure who had contributed to shaping private investment finance in the United States. Colleagues and business associates remember the financial guru fondly as he left an indelible mark in each of them. His knowledge in business and entrepreneurship was sharpened by his time at the Boston College where he graduated with a bachelor’s degree in Economics in 1984 and later a master’s degree in Business Administration.
Mr. Stephen Murray CCMP Capital has been described by many people as being selfless and a big believer in education. This is evidenced by his immense contribution in philanthropic activities throughout the United States and other parts of the developing world. He supported his former graduate school Boston College, The Columbia Business, The Make-A-Wish Foundation among other notable contributions. His efforts in supporting education and the less fortunate will be felt many years to come.
Despite passing away more than a year ago at the age of 52, Stephen Murray is still featured almost daily in articles about his career. Many finance professionals remember Murray as one of the most important analysts, fund managers, and boardroom leaders in the history of banking. While his life was cut short, Murray accomplished more than most men dream of achieving in a century. Most importantly, he knew how to balance his work life with that of his family, and he left behind four children who carry his vision into the next generation.
As with most of the world’s effective leaders, Murray credited his formative years with providing him with the knowledge, skills, and experience required to make him a success. After being raised in Westchester County, N.Y., Murray went on to earn a bachelor’s degree in economics from Boston College in 1984. Upon graduation, Manufacturers Hanover Corporation hired Murray as a credit trainee, and he quickly rose to become a vice president. Meanwhile, Murray began studying at Columbia University for his MBA, which he completed in 1989. Later in life, Murray would return to make significant donations to the institutions he studied at in his youth.
Chemical Venture Partners
Although Manufacturers Hanover Corporation had helped Murray establish his career, he saw how the company, which would later declare bankruptcy in 1992, was headed for failure due to its bad loans. Therefore, Murray, along with several partners, decided to launch Chemical Venture Partners, which later became CCMP Capital. At first working closely with JP Morgan Chase, Chemical Venture Partners offered venture capital and other forms of private equity. Chemical Venture Partners primarily focused on smaller investments valued at less than $50 million, and this portfolio quickly yielded Murray’s investors a significant return.
Launch of CCMP Capital
After quickly realizing success, Murray acquired enough influence to rename his firm JP Morgan Partners. Consequently, Murray became free to focus on investments valued at greater than $100 million while enjoying direct access to capital from JP Morgan’s clients. JP Morgan Partners realized rapid geographic expansion in Hong Kong, London, Tokyo, and New York. As the world became more globalized, Murray’s portfolio grew rapidly to the point where its association with the JP Morgan brand became less significant. JP Morgan sensed that Murray would soon want to branch out on his own, so it acquired One Equity Partners, a private equity firm, in 2004. Two years later, Murray renamed his firm CCMP Capital and parted ways from JP Morgan entirely.
Once Murray had become completely independent, he was free to make ambitious investments in new enterprises without the constraints imposed by an established parent entity. CCMP Capital’s initial investments made Murray a legend in the finance world. CCMP Capital invested more than $12 billion in the early launch stages of some of the world’s most successful companies, such as Cabela’s, Quiznos Subs, Pinnacle Foods Group, Infogroup, Aramark, Vitamin Shoppe, and dozens of others. In many transactions, CCMP Capital invested more than $500 million.
Stephen Murray was the impetus behind CCMP Capital’s most profitable investments, but his journey to helm of his own firm is what makes his legacy worth remembering. After starting out as a humble trainee, he worked his way up to becoming a vice president in just five years. Murray then helped JP Morgan grow its name as an investment powerhouse and finished his career with a consistent string of profitable investments. Professionals in any field can, therefore, look to Murray’s dedication and success as inspiration for building their own career.