The Growth of CCMP Capital under the Leadership of Stephen Murray
CCMP Capital was created from a number of partnerships. The partnerships helped in enhancing financial growth and market presence for the corporation. CCMP Capital is a private equity firm that handles leveraged buyouts and growth capital transactions. It has been ranked among the largest private equity fund firm globally. The firm has offices in Hong Kong, New York, Tokyo and London. It has employed many employees to enhance its objectives. CCMP has invested more than $12 billion in leveraged buyout transactions and growth capital.
CCMP Capital’s history dates back to 1984. It was first named Chemical Venture Partners, which was a venture capital branch for the Chemical Bank. In 1996, the firm acquired Chase Manhattan Bank resulting to the change of its name to Chase Capital Partners. In 2000, the firm bought J.P. Morgan &Co leading to the formation of J.P. Morgan Chase was formed. The firm was rebranded to JP Morgan Partners. As the platform continued to develop and expand, various private institutions were incorporated. These incorporated firms included Robert Fleming & Co, Hambrecht & Quist, Chase Manhattan, Manufacturer Hanover, The Beacon Group and the J.P Morgan & Co.
After a while, the JP Morgan Chase acquired the Bank One. The interest in Bank One was elicited by its own private equity group, One Equity Partners. The private equity was formed to act as a private equity leeway for JP Morgan Chase. In April 2006, JP Morgan Chase completed the sale of $925 million in the JP Morgan Partners World Fund. Two months later, JP Morgan Partners and JP Morgan Chase parted ways. This situation saw the company named CCMP after taking the first letters of the previous companies.
After the split from JP Morgan, CCMP raised $3.4 billion for the CCMP Capital Investors Program. The program marked the beginning of the firm as a solo entity after its separation from JP Morgan Chase. In 2014, CCMP put up Medpace, a pharmaceutical contract research firm, for sale. Cinven ended up buying Medpace for a consideration of $900 million. Today, CCMP continues to provide innovative products and services to its diverse clients in the market.
Stephen Murray has been the President and chief executive officer of CCMP Capital. He was born in 1962. Stephen attended Boston College where he received an undergraduate degree in economics. He proceeded to Columbia Business School earning a postgraduate degree in business administration. He undertook a training program in credit analysis at the Manufacturers Hanover Corporation. Stephen started his career at MH Equity Corporation, which was the leveraged finance unit of the Manufacturers Hanover’s private equity. Stephen was instrumental during the various acquisitions and partnerships with the company before co founding CCMP. Murray became the chief executive officer of CCMP in 2007.