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CIP Capital appoints new principal

New York-based middle-market investment firm CIP Capital named Michael Grady as principal and promoted Kevin Formica to vice president.

Grady will join the firm's senior investment team. He most recently worked at Partners Group Holding AG as senior vice president of its direct private equity group.

According to a Jan. 8 news release, CIP will continue to expand throughout the year and is working with members of CIP Operating Network as it seeks investments in the business information and technology-enabled services markets.