# CIP Capital
CIP Capital is a New York-based private equity firm that invests in middle-market companies in the business information and tech-enabled services sectors. Founded in 2010, it advises three funds through its SEC-registered investment adviser, CIP Fund Management, LLC (CRD 160700), and reported $425,562,112 in discretionary regulatory assets under management as of a June 2024 filing.[1](https://www.cip-capital.com/) • [2](https://www.9at.com/Adviser/801-100491) • [3](https://adviserinfo.sec.gov/firm/summary/160700)
| Key fact | Detail |
|---|---|
| Founded | 2010 (firm); adviser CIP Fund Management, LLC in business since October 2011[1](https://www.cip-capital.com/) • [4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) |
| Headquarters | New York, United States[5](https://www.privateequityinternational.com/institution-profiles/cip-capital.html) |
| Sector focus | Business information and tech-enabled services in North America[1](https://www.cip-capital.com/) |
| Funds | CIP Capital Fund I (closed Feb 2015), Fund II (Jan 2017), Fund III (Jul 2019)[5](https://www.privateequityinternational.com/institution-profiles/cip-capital.html) |
| Peak reported AUM | $1,074,374,550 discretionary, as of December 31, 2019[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) |
| Latest reported AUM | $425,562,112 discretionary, 5 advisory employees, 3 private funds (June 2024 filing)[2](https://www.9at.com/Adviser/801-100491) |
| Deal criteria | Revenue $20 to $100+ million; EBITDA $5 to $25+ million[6](https://www.cip-capital.com/pages/strategy) |
## Investment strategy
CIP Capital describes itself as exclusively focused on growth-oriented, middle-market companies across the Business Information and Tech-Enabled Services sectors in North America.[1](https://www.cip-capital.com/) Its Form ADV brochure places the focus in lower middle market companies across the business information and outsourced services sectors, naming four sub-sectors: business process outsourcing, marketing services, knowledge services, and B2B information management.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) The firm's website lists target areas including tech-enabled business services, data-driven marketing services, human capital management, and knowledge services.[1](https://www.cip-capital.com/)
The model is buy-and-build: the adviser pursues platform investments in fragmented markets with multiple accretive add-on acquisition opportunities, seeking control positions with prudent leverage and equity co-investments.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) It targets niche businesses with sector tailwinds, capital-light and high-margin business models, and diverse customer bases with high retention.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) The firm's strategy page states that platforms are built through organic initiatives and acquisitions to expand into new service offerings, vertical end-markets, and geographies, and that CIP typically takes a control private equity shareholder position in companies with highly visible, predictable, recurring revenue streams.[6](https://www.cip-capital.com/pages/strategy)
Stated investment criteria are revenue of $20 to $100+ million and EBITDA of $5 to $25+ million.[6](https://www.cip-capital.com/pages/strategy) Each fund may invest up to twenty percent of its aggregate capital commitment in companies not organized in or principally based in North America, a limited allowance around an otherwise North America-focused mandate.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158)
## Founding and leadership
The firm dates its founding to 2010.[1](https://www.cip-capital.com/) Its investment adviser, CIP Fund Management, LLC, is organized as a Delaware limited liability company and has been in business since October 2011.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) The SEC approved the adviser's registration on July 15, 2015.[2](https://www.9at.com/Adviser/801-100491)
**Scott Marden** is the firm's Managing Partner, and **Melissa Vlak** is Managing Director and Chief Operating Officer, both based in New York; Michael Barack is listed as Vice President.[5](https://www.privateequityinternational.com/institution-profiles/cip-capital.html) Ownership has changed between filings: one brochure names the principal owners of CIP Fund Management as Scott Marden, Justin Lipton, and Melissa Vlak,[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) while a later brochure names Scott Marden and Melissa Vlak.[2](https://www.9at.com/Adviser/801-100491) The Form D for the first fund listed Bobby Kelly, Scott Marden, Melissa Vlak, and Justin Lipton as executive officers, with Compass Investment Management LLC, doing business as CIP Capital, also listed.[7](https://aum13f.com/fund/cip-capital-fund-lp)
The general partners of the three funds (CIP Capital GP, L.P., CIP Capital GP II, L.P., and CIP Capital GP III, L.P.) are each 100% owned by CIPFM principals, so the firm is not an affiliate of a larger institution.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158)
## Funds and fundraising
CIP Fund Management provides discretionary advisory services to three private equity funds: CIP Capital Fund, L.P., CIP Capital Fund II, L.P., and CIP Capital Fund III, L.P.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) Private Equity International records close dates of February 2015 for CIP Capital Fund, January 2017 for CIP Capital Fund II, and July 2019 for CIP Capital Fund III.[5](https://www.privateequityinternational.com/institution-profiles/cip-capital.html)
The first fund's Form D, dated October 20, 2011, offered $350.0 million and reported $230.2 million sold.[7](https://aum13f.com/fund/cip-capital-fund-lp) An amendment filed February 19, 2015 under exemptions 506(b) and 3(c)(7) listed a $5,000,000 minimum investment, $119,800,000 remaining in the offering, and 26 investors.[7](https://aum13f.com/fund/cip-capital-fund-lp)
## Scale over time
The adviser's regulatory assets under management have declined across successive filings. As of December 31, 2019, CIPFM managed $1,074,374,550 of discretionary assets.[4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158) As of December 31, 2022, it managed $500,135,387.[2](https://www.9at.com/Adviser/801-100491) A filing dated June 7, 2024 reported $425,562,112 in discretionary regulatory AUM, 5 employees all performing investment advisory functions, and 3 private funds.[2](https://www.9at.com/Adviser/801-100491)
## Recent developments
The most recent regulatory filing summarized here, dated June 7, 2024, shows the same three funds reported since the 2019 Fund III close, five advisory employees, and $425.6 million in discretionary AUM, a 15% decrease from the prior figure shown on the same record.[2](https://www.9at.com/Adviser/801-100491) The later brochure lists two principal owners, Scott Marden and Melissa Vlak, where the earlier brochure had listed three.[2](https://www.9at.com/Adviser/801-100491) • [4](https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158)
## References
1. CIP Capital, official website. https://www.cip-capital.com/
2. 9AT: CIP Capital, SEC adviser summary (CRD 801-100491). https://www.9at.com/Adviser/801-100491
3. CIP Capital, Investment Adviser Firm, SEC IAPD (CRD 160700). https://adviserinfo.sec.gov/firm/summary/160700
4. CIP Fund Management, LLC, Form ADV Brochure, SEC IAPD. https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=630158
5. CIP Capital, Institution Profile, Private Equity International. https://www.privateequityinternational.com/institution-profiles/cip-capital.html
6. CIP Capital, Strategy page. https://www.cip-capital.com/pages/strategy
7. CIP Capital Fund LP, SEC Form D record. https://aum13f.com/fund/cip-capital-fund-lp
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*Topic: Encyclopedia › Society and history › Economics and business › Founders, operators, and investors › Private equity and long-term capital › United States middle market and specialists › Growth equity and technology investors*
*Initially written Sep 19, 2026 · Reviewed: Sep 19, 2026 · Edited: Oct 15, 2026 · Last review: Sep 19, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license