Former CCMP Capital CEO Stephen Murray Produced Consistent Gains In Assets Under Management

Stephen Murray’s reputation is still part of daily conversations in the hedge fund industry. Murray did what other hedge fund managers failed to do while he was CEO of CCMP Capital. Murray consistently produced gains in assets under management, and that’s not easy to do, especially in today’s hedge fund market.

But Murray is not participating in the market anymore. Murray passed away in 2015 while he was at the top of the investment game. Murray was the resilient New Yorker that knew how to act around the money people as well as the people that were trying to become money people. Read more: Stephen P. Murray – President @ CCMP Capital Advisors

Hedge fund investors are an elite and closed group, so Murray had to cultivate the investment rookies on his own time, and he did that when an opportunity presented itself. But Murray was tuned into the investment market almost 24/7, and that started after he earned his Master’s degree in Business Administration from Columbia University.

In 1984, Stephen Murray accepted the position as credit trainee, and he felt the rush that only comes when money is exchanged in the millions of dollars instead of in hundreds of dollars. Murray learned how to invest in that Manufacturers Hanover Trust Co position, and he was on his way to becoming a vice-president of the company, and it only took him five years to do that.

When conflict of interest allegations were being thrown around after Manufacturers Hanover Trust Co merged with JP Morgan in 2000, the partners decided to start another investment firm that handled investments in the $100 to $500 million range.

In 2006, the partners picked Murray as CEO of the new company, and they chose an acronym that describes the roots of the company, CCMP. Chemical Venture Partners. Chase Manhattan Bank, Manufacturers Hanover Trust, and JP Morgan are represented in the 4 letter name of Murray’s startup, and by 2007 the investment fund had $3.4 billion in assets under management.

Although Stephen Murray passed away in 2015, some of the strategies he used to produce the gains that the limited partners enjoyed are still being used today. CCMP Capital has not forgotten what Murray did while he was CEO, and the success the firm is having is a tribute to the solid foundation he built when CCMP formed its first fund.

Most hedge funds are just trying to survive in 2016, but CCMP Capital is producing better-than-average gains. The average gains in the hedge fund industry in 2016 are between three and five percent.

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