CCMP Capital President and CEO Stephen Murray, 52, died Thursday, a source close to Murray said.
Murray resigned from his firm last month citing health reasons.
CCMP is perhaps better known as the former JPMorgan Partners, and it changed its name in 2006 after spinning off from the bank.
Murray was an industry pioneer joining JPMorgan's merchant bank in 1989 and helping it to build a sizable private equity business.
Traditionally, the firm invested alongside better-known private equity firms acquiring minority stakes in companies including Aramark.
However, in 2004 it bid successfully for ownership of listed pharmaceutical company Warner Chilcott winning over TPG Capital, KKR and Blackstone. TPG was so upset it threatened to pull all its business from JPMorgan, and JPMorgan responded by spinning off the private equity arm.
Murray took over the reins at the renamed CCMP in 2007 from Jeffrey Walker and helped the firm establish a new identity with investors.
CCMP raised a $3.4 billion fund in 2007, and last year unveiled a new $3.6 billion fund.
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