On March 12, 2015 CCMP capital advisors lost one of it best employees, Mr. Stephen Murray to an illness, according to a Wikipedia article. Mr. Murray was the former chief executive officer and president, of the New York based investment firm. He had resigned a month earlier due to health reasons, leaving the company in the capable hands of Mr. Greg Brenneman. The news of his passing was confirmed by Alexandra LaManna, a company spokesman, thorough an email.
Stephen Murray was born in 1962 and was raised in the suburbs of Westchester county New York. He graduated from Boston University with a degree in economics. He later pursued a Master’s degree in business administration, from Columbia business school.
Crunchbase reports that in 1984, Mr. Stephen Murray was part of the credit analyst training programme at Manufacturers Hanover Cooperation. In 1989 he went on to join Manufactures Hanover cooperation’s private equity group. Here he rose to the post of vice president of middle-market lending. After a number of buy outs and mergers involving various firms JP Morgan was established in 2000.
Stephen Murray stayed on thorough the changes and was appointed the head of the buyout business at JP Morgan, in 2005. The firm successfully bid for the publicly traded drug company Warner Chilcott, beating TPG, KKR and Blackstone.
This irritated TPG which finally led to the split that left CCMP capital, as an independent company. Mr. Murray was appointed CEO in 2007, and helped the firm navigate through the storm.
The firm specializes in middle-market buy outs and growth equity investments. CCMP normally invests up to $500 million, focusing on companies in consumer, healthcare and the energy sectors.
The 52 year old had been with the company for over two decades, and has been described as ‘terrific deal maker and a terrific investor’, by the current CEO Greg Brenneman. With him as the head of the company, they have managed to raise two multibillion dollar funds, with the latest closing at $3.6 billion.
His good deeds
Despite being a financial advisor, Stephen Murray was also a philanthropist. He supported various causes among them the Boston College, Columbia business school, the Make a Wish Foundation of Metro New York and the Stamford museum.
Stephen Murray was also the vice chair of the board of trustees at Boston college, as well as on the council for the Make a Wish Foundation. He is survived by his wife Tammy Murray and four sons.
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George Soros, the hedge fund billionaire and open society advocate on bloomberg.com, has been stirring the economic pot lately. In Sri Lanka, Soros told an economic forum that China was in more economic trouble than they are admitting. In Davos Switzerland Soros said the same thing, according to an article published by Bloomberg.com. Soros told both forums that the hard economic times that the Chinese will experience was practically unavoidable. Soros said he was not expecting that to happen; he is watching it happen.
The slowdown in China has been going on for the last three years on politico.com, but when $16 trillion was wiped off global equities market in June 2015, there was little doubt that a global recession was brewing that would rival the 2008 meltdown.
It’s hard not the listen to Soros. His track record speaks for itself. He has made more than $22 billion betting on situations that are similar to the Chinese dilemma. In 1992, he made $1.2 billion when he shorted the pound sterling, and it was devalued by 20 percent. Mr. George Soros hedge fund Soros Fund Management is considered one of the most successful hedge funds in the world. The Hungarian-born octogenarian is a force to be reckoned when it comes investing, social causes and political campaigning. Soros has spent more than $6 billion trying to bring open societies to countries that disrespect human rights.
The Soros Open Society Institute helps millions of people, and the former Nazi refugee spends most of his time and a lot of money trying to bring democracy to nations that have no understanding of that concept. But George is also committed to increasing the awareness that the world is tumbling into another economic meltdown, and it could be worse than the subprime mortgage debacle that started nine years ago.
China is the main issue this time, but crashing oil prices, the refugee crisis, Middle Eastern wars and the possible collapse of the European Union are all playing a role in the new global recession, according to an article published about Soros by CNBC.com. Not all economists agree with Mr. Soros, however. Some economists say China is going through a manageable transition, and there is a certain degree of volatility, but that volatility is normal given the nature of economic principles. Most of the economists that take that position are Chinese.
China is still forecasting more than 6.5 percent GDP product growth in 2016, and that will continue every year for the next five years, but according to Soros, that forecast is not accurate. China’s economy may grow by less than 3.5 percent in 2016, according to Soros and other economists, and that is considered a recession even though China doesn’t admit it.