Investors have voted in favour of CCMP Capital Advisors continuing after the firm’s president and chief executive Stephen Murray died.
His death triggered a key-man clause allowing LPs in the $3.6bn fund to vote on whether they wanted the remaining team to continue as before, according to a source with knowledge of the matter cited by Dow Jones.
CCMP Capital Investors III closed last September, beating its target by $100m as well as surpassing its $3.4bn predecessor.
The firm targets mid-market buyout and growth equity opportunities and at the time said it would use its third fund to make 12 or 13 deals.
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