CCMP Capital is a new York-based firm by Steve Murray that focuses on growth capital transactions and leveraged buyout since it deals with private equity investment. Its former name was JP Morgan Partners. It is important to note that most investment professionals working for JP Morgan Partners left JP Morgan Chase in 2006 around the month of July. CCMP has invested around $12 billion in growth capital transactions and leveraged buyout since inception. It was in 2007 that CCMP was ranked number 17 among the largest biggest private equity funds in the world.
Steve Murray was a philanthropist and a well-known on Wall Street as a private equity investor. He was the chief executive officer and the president of CCMP Capital. In 1984, Stephen graduated from Boston College with a degree in economics. He earned his masters from Columbia Business School where he pursued business administration. His major achievement was co-founding CCMP in 2006. Other major companies where he served on the board include Legacy Hospital Partners, Pinnacle Foods, The Vitamin Shoppe, Aramark, AMC Entertainment and General Power Systems. It took him several years to take CCMP Capital to what it is today.
CCMP has more than fifty employees working in their offices in London, New York, Tokyo and Hong Kong. Greg Brenneman was hired as the chairman of CCMP in 2008.In the past two decades, CCMP has had several names. It was originally founded in 1984 as Chemical Venture Partners to serve as venture capital arm and private equity of Chemical Bank. In 1996, after Chemical Venture Partners acquired Chase Manhattan Bank, the name Chase was adopted by Chemical to form Chase Capital Partners. It also did the same in 2000 when it bought J.P Morgan and company. It is after this acquisition that it changed its name to JP Morgan Partners. After this acquisition, the platform has grown through integrating private equity organizations of Chase Manhattan, Manufacturers Hanover, The Beacon Group, Robert Fleming and company and J.P Morgan and company.
In 2004, JP Morgan Chase acquired One Equity Partners. Dick Cashin led One Equity, who was a very competent leader. He was still the leader when they JP Morgan partners finally decided to spin out JP Morgan Chase. It was in 2005 that JP Morgan Partners made an announcement of its spinout. During the same month, they completed the separation process where it was to start operating on its own in 2006. The newly formed firm adopted the acronym ‘CCMP’ referring to its predecessors (JP Morgan Partners, Chase, and Chemical).it was in 2006 that JP Morgan completed selling $925 million interest that were in JP Morgan Partners to form a group of secondary investors.
It was in 2007 when Stepehn Murray CCMP completed fundraising, closing on about $3.4 billion of money that most institutional investors committed. In February 2014, another bold step was taken by CCMP where they sold a pharmaceutical contract research enterprise Med pace to Cinven for approximately $900 million.