Firm: Marwit Capital
Fund: Marwit Capital Partners III LP
Target: $250 million
Placement Agent: None
The Newport Beach, Calif.-based buyout shop expects to hold a first close for
Far Hills Group, a New York-based financial advisory firm, helped Marwit Capital raise its second fund. The firm hasn’t retained Far Hills to help with Fund III, but the placement agent has helped introduce Marwit Capital executives to certain investors on an as-needed basis, Britt said. Since raising Fund II, Marwit Capital has cultivated its own relationships with potential investors, Britt added.
Marwit Capital targets companies that generate revenue between $20 million and $200 million and EBITDA between $4 million and $50 million. The firm closed Fund II, its first vehicle to include institutional money, at $184 million in 2007, exceeding its $175 million target. That fund holds 10 companies, including Granite Seed Company, a Lehi, Utah-based supplier of seeds that help restore eroded land, and Western Emulsions Inc., a Dana Point, Calif.-based company that makes products used in roadway asphalt.
Investors in that earlier fund included funds-of-funds managers
Marwit Capital is looking to hire a principal and three associates to build on its 11-investment-professional staff.