Legacies are one of the most important things that a wealthy businessman and financial officer can have in their lifetime. Maintaining a good legacy and good resume is a goal that one Stephen P. Murray managed to achieve over his lifetime.
Stephen Murray was on August 2, 1962 in Brooklyn, New York and was raised mainly in North Tarrytown, New York. Much of his youth was spent living in New York until he finished at Sleepy Hollow High School and then began attending Boston College. There, he earned his bachelor’s degree in economics in 1984, and then pursued and attained his masters degree in business administration from the Columbia Business School in 1989. Learn more about Stephen Murray CCMP: http://observer.com/2015/02/this-old-thing-private-equity-honcho-drops-little-place-uptown-for-11m/
Immediately after getting his bachelor’s, Murray began working with the credit analyst training program at Manufacturers Hanover Corporation, which was a bank holding trust company at the time. After the completion of his masters, Murray then went on to join the MH Equity Corporation, which was a combination of the private equity group and leverage financing units of Manufacturers Hanover. The company he worked with was eventually bought out by Chemical Bank in 1991 and eventually became Chemical Venture Partners.
Stephen P. Murray’s biggest claim to fame in his lifespan was being the president, CEO and co-founder of CCMP Capital, another private equity firm. Private equity and middle market leverage buyouts were a major strong point for Murray in his life and CCMP was originally founded in 2006, being mainly a spinoff of JP Morgan Partners at the time. After only being involved with CCMP for a year, Murray was promoted to the CEO of the company in 2007 and not only maintained its success over time but exceeded it, with the company raising $3.6 billion in funds that year.
Though economics was a strength for Stephen Murray, he was also a known donor and philanthropist in his spare time. For example, Murray was a staunch supporter of the Make-A-Wish Foundation in New York’s metropolitan area, even going so far as being a member of the chairman’s council of the group.
In addition, he was also very heavily involved at his alma mater, Boston College, not just supporting his school but volunteering to be the vice chairman on the college’s board of trustees. He also donated to and supported causes for the Stamford Museum and the Columbia Business School.