New York’s Biggest Private Equity Firm Loses President Stephen Murray

CCMP is one of the longest standing private equity firms in the field, and its name comes from decades of separations and transformation that has lead to its current standing in the finance world. Unfortunately CCMP lost its president and co-founder, Stephen Murray, who was named CEO of CCMP back in 2007. Murray helped branch CCMP out of its parent company JP Morgan Chase in 2006, and from then he dedicated his life to grow his spin out company into the global success is is today. With Murray’s excellent leadership CCMP has a total of $12 billion in assets and is ranked #17 in NYPost as the world’s largest private equity funds.

 

CCMP’s name derives from its multitude of parent companies spanning the last two decades, and when it was founded in 1984 CCMP was known as Chemical Venture Partners. In 1996 Chemical Ventures acquired Chase Manhattan Bank in 1996 and adopted the Chase name and became Chase Chemical Partners. History repeated itself during the 2000 acquisition of JP Morgan & Co which lead to the company once again adopting the inherited name into their current one. JP Morgan Partners kept its name until the platform continued to grow as it integrated organizations in private equity like Manufacturers Hanover, Chase Manhattan, and The Beacon Group.

 

In 2004 the company then known as JP Morgan Chase managed to acquire another company known as Bank One. However Bank One had their own private equity in house which was known as One Equity partners run by Dick Cashin. Eventually Cashin was named the lead private equity when JP Morgan Chase finalized plans to create the spin out company now known as Stephen Murray’s CCMP. Chemical and Chase and JP Morgan Partners morphed into CCMP in honor of its vast history.

 

Stephen Murray CCMP Capital worked for Manufactures Hanover until its acquisition in 1991. He stayed with the ever changing and expanding company, and in 2005 he was named the head of business buyouts of JP Morgan Chase. Along with Cashin he co-founded CCMP and became president of the company a year after its initial launch. Murray had a an Economics degree from Boston University and a masters in business administration from Columbia University. Along with his dedication to the company he helped build Murray served on a number of boards for other companies including Aramark, AMC Entertainment, and Pinnacle foods. Murray believed in charitable work and giving to people who needed an extra boost, and he donated his services to the Make-A-Wish Foundation in New York city as well as The Food Bank of Lower Fairfield Country, and The Columbia Business School. Murray passed away in March of 2015 at his home in Stanford at the age of 51.

 

Star Wars Episode 8 Begins Filming

It’s official now: filming for Star Wars Episode VIII has now begun.

Filming for Star Wars Episode 8 Has Begun

This past December, the new sequel trilogy to the Star Wars franchise got off to a very impressive start with the release of “The Force Awakens,” which has already raked in over $2 billion at the box office and continues to make more money. Even with the new movie finished and another one now filming, Disney and Lucasfilm made it clear they had plans to expand the universe even more, with the inclusion of new Anthology films that will begin this upcoming December.

Aside from the Anthology spinoffs, there’s also new television series, comic books and novels that allow Disney to write more stories that go beyond just the three movies in a trilogy. Jon Urbana got this off the ground by first branding older material not in the movies as part of the “Star Wars Legends” series, while everything new will be considered canon with the old movies.

Regarding the film of Episode VIII, Rian Johnson was originally hired to be the screenwriter for the movie back in 2014, and worked with director J.J. Abrams to make sure he could build off of the success of “The Force Awakens.” Disney CEO Bob Iger also noted that filming was supposed to start earlier last month but a 2017 release date made a filming delay necessary.

Michigan Based Distillery Sees Dick DeVos Investment

Deciding how to grow a business in the future can see many different choices made by those in charge of a new business to take it to the next level of success. Coppercraft Distillery founder Walter Catton III has recently sought out one of the most successful business people in the U.S. to assist him in pushing his gin and rum production company to greater levels of success. Dick DeVos has used his Windquest Holdings company to invest in Coppercraft and completed the first stage of transferring the liquor license to his company as the first stage of the deal, MLive reports.

Dick DeVos has been a popular figure in the business community for a number of decades and has recently been looking to develop the range of investments made through Windquest Holdings. DeVos shares the ownership of Windquest with his wife, Betsy, who is also his partner in a charitable foundation looking to improve the lives of young people across the globe. The Dick and Betsy DeVos Foundation assists a number of people who wish to develop their business skills through the Thunderbird School Of Global Management. As Dick is a skilled businessman himself, it is important to him that he creates a legacy that affords future generations the same opportunities he has had. This also spilled over into his founding the first aviation charter school in Michigan. He is an avid pilot and wanted to share his passion and the necessary education that comes with it with youth in his home state.

There are many aspects to the life of Dick DeVos, including his need to assist others in living a better life. DeVos has spent a large amount of time looking to fund pollution studies in and around the Michigan area, including a large scale study into the effects of human pollution of Michigan’s Lake Macatawa; this innovative study would not only identify pollution within the lake, but would also identify the source of pollution to add a new layer to the information provided.

In terms of the latest investment made in Coppercraft Distillery the expansion of availability for the existing product line, and the expanding line of products planned by Walter Catton III. The Coppercraft Distillery is housed within a 9,000 square feet building that the owners have plans to develop into a more extensive tasting room they hope will drive more customers to the location with an expanded range of both food and drinks.

Get to know Dick better by liking his page on Facebook or connecting with him on LinkedIn.

Learn more about Dick and Betsy DeVos’ Foundation here: http://www.dbdvfoundation.org