CCMP Capital is one of the most visible firms in the stock market. It has been a player there since 1984 and has over time gone with different names. Its history can be traced from chemical industries which in 1984 decided to have an investment bank. It was named Chemical partners and was based in Boston. It was a firm that was backed by billions of chemical industry money and which grew over time to reach record levels.
In 1991, Chemical Partners merged with Manufactures Hannover to form Chemical Capital. The merger was based on the market conditions then which necessitated such a transformation. He had joined the firm in 1984 and had risen through the ranks to became one of the most senior persons in the company. The merger with Chemical to create Chemical Capital also opened new doors for Steven Murray.
In 1996, his firm merged with Chase bank to create Chemical-Chase Capital. The merger was to expand the firm’s offerings and its basis. In 2000, it merged with JP Morgan to create JP Partners. It was a marriage that was to last till 2005.
In 2006, there was a fall out of the original members of the merger. It was felt J.P Morgan had taken over too many powers and needed to be curtailed. A group led by Steven Murray opted out. It formed its spin-off which was named after the five original members. That marked the birth of CCMP Capital. The letters stand for Chemical, Chase, Manufacturers and Jp Morgan.
Steve Murray took CCMP through one of its most trying periods of time. It was during the date of the great recession, and it survived that time. It has grown to become one of the biggest firms in the market thanks to its investment strategy. It today has $ 17 billion in invested capital with a portfolio spread around the world. It has invested in healthcare, energy, IT, Industry and retail market.
Steve Murray was born 52 years ago in Boston. Murray grew up ii in Boston area, and later joined Boston College to study economics in 1984.With an economics degree, Murray left for New York where he joined Columbia business school and graduated in 1989 with an MBA.
Mr Murray started his career with Manufacturer Hannover Corporation in 1984.He was the credit analyst at the bank. In 1989, he joined MH equity corporation. It was the trading arm of Manufacturer Hannover corporation. His firm has since then undergone the series of mergers that formed CCMP.