Former CCMP Capital President and CEO Stephen Murray died Thursday after an illness. He was 52.
Murray resigned from his firm last month, citing health reasons.
“We are very saddened to learn that our friend and former partner, Steve Murray has passed away,” said Greg Brenneman, CCMP’s chairman, president and CEO. “Our deepest condolences, thoughts and prayers are with his wife and sons. We know they were his pride and joy.
“A founding partner of CCMP Capital, Steve was a terrific investor and deal maker who spent the majority of his career in private equity. We are grateful for his positive contributions to the success of CCMP and its predecessors.”
CCMP, formerly JPMorgan Partners, changed its name in 2006, after it was spun off as a separate business.
Murray was an industry pioneer who joined JPMorgan’s merchant bank in 1989, and helped it build a sizable private-equity business.
Usually, the firm invested alongside bigger and better known PE firms, acquiring minority stakes in companies such as concession operator Aramark.
However, in 2004, the firm bid successfully for publicly traded drug company Warner Chilcott, beating TPG Capital, KKR and Blackstone. TPG was so irate it threatened to pull all its business from JPMorgan, which responded by splitting off CCMP.
Murray was named CEO in 2007, and helped the firm establish a new identity with investors. CCMP raised a $3.6 billion fund last year.