CCMP Capital nears $3.5bn target for latest buyout fund


Stephen Murray CCMP Capital CCMP Capital Advisors, the New York-based private equity firm that spun out from JP Morgan Chase in 2006, is reportedly close to hitting its $3.5bn target for its third fund.

CCMP president and chief executive Stephen Murray, pictured, announced the news at the Wharton Private Equity Conference on Friday, according to the Wall Street Journal.

CCMP raised $3.4bn for its last private equity vehicle in 2006.

The firm was looking to expand its LP base in the latest fund, CCMP Capital Investors III, by targeting sovereign wealth funds across the globe.

In August last year CCMP bought Apax Partners’ stake in Ollie’s Bargain Outlet through a debt recapitalisation.

Although financial terms of the deal were not disclosed, CCMP typically targets buyouts and growth equity investments of between $100m and $500m, according to its website.

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