CCMP Capital
usinfo | 2013-08-15 17:19
 
Type Limited Partnership
Industry Private Equity
Founded 1984 (2006 Spinout fromJPMorgan Chase)
Headquarters New York City, New York,United States
Key people Greg Brenneman, CEO
Products Leveraged buyout, Growth capital, Private equity funds
Total assets $12 billion
Website www.ccmpcapital.com
 

CCMP Capital is a private equity investment firm that focuses on leveraged buyout and growth capital transactions. Formerly known as JP Morgan Partners, the investment professionals of JP Morgan Partners separated from JPMorgan Chase on July 31, 2006. CCMP has invested approximately $12 billion inleveraged buyout and growth capital transactions since inception. In 2007, CCMP was ranked #17 among World's largest private equity funds.
CCMP has over 50 employees with offices in New York, London, Hong Kong and Tokyo. In 2008, CCMP hired Greg Brenneman as chairman.

History
CCMP has been known by several names over the past two decades, originally founded as Chemical Venture Partners in 1984, to serve as the private equity and venture capital arm of Chemical Bank.

Following Chemical's acquisition of Chase Manhattan Bank in 1996, Chemical adopted the Chase name and Chemical Venture Partners changed its name to Chase Capital Partners. Similarly, following the 2000 acquisition of J.P. Morgan & Co. and the formation of JPMorgan Chase, the group changed its name yet again to JP Morgan Partners. Over this time, the platform grew through its integration of the private equity organizations of Manufacturers Hanover,Chase Manhattan, Hambrecht & Quist, Robert Fleming & Co., The Beacon Group and J.P. Morgan & Co.

In 2004, JPMorgan Chase completed its acquisition of Bank One which had its own in house private equity investment group,One Equity Partners. One Equity, led by Dick Cashin was ultimately designated as the lead private equity platform for JPMorgan Chase at which point JP Morgan Partners formalized plans to spin out of JPMorgan Chase.
JP Morgan Partners announced the spinout in March 2005 and completed the separation from JPMorgan Chase effective July 31, 2006. The new firm adopted the CCMP acronym in reference to its predecessor entities (i.e., Chemical and Chase and JP Morgan Partners). In April 2006, JPMorgan Chase completed the sale of a $925 million interest in JP Morgan Partners Global Fund to a consortium of secondary investors.

The spinout of CCMP came at the same time as the spinouts of private equity groups from other leading investment banks including: Morgan Stanley (Metalmark Capital), Citigroup (Court Square Capital Partners), Deutsche Bank (MidOcean Partners) and Credit Suisse First Boston(Avista Capital Partners, Diamond Castle Holdings).

In 2007, CCMP completed fundraising for its most recent fund, closing on $3.4 billion in commitments from institutional investors for CCMP Capital Investors II. CCMP Capital Investors II, represented the first fund raised by the CCMP team subsequent to its split from JPMorgan Chase and came in slightly below the original $3.5 billion target that CCMP set for the fundraising.

Panorama Capital
Prior to its spin out from JPMorgan Chase in 2006, JP Morgan Partners made investments in leveraged buyout, growth capital and venture capital transactions. Following the spinout, the investment professionals focused on venture capital transactions separated from the CCMP Capital team to form a new firm, Panorama Capital.

Based in Menlo Park, California, Panorama continues to focus on early and expansion-stage opportunities in both the information technology and life sciences sectors. Panorama began raising its first independent fund in October 2005, with a target size of $500 million. After more than a year of fundraising, Panorama closed on approximately $240 million of investor commitments.

 

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