Marwit Capital is Raising $225 Million For Fund Three

Marwit Capital Partners, a micro-cap buyout firm based in Los Angeles, has entered the market with its third formal buyout fund, seeking $225 million, according to a source familiar with the situation. The firm has not yet held a first close on the effort, which has a slightly higher target than its second vehicle. That oversubscribed fund closed on $183 million. Prior to fund two, Marwit Capital raised $50 million in 1996.

Fund two generated investments from Banc of America Capital Access Fund, which manages money from CalSTRS, CalPERS and BofA, as well as Siguler Guff, Arlington Partners, Cornerstone Private Equity Partners V, and Keystone Private Equity.

The firm makes $10 million to $20 million investments in businesses with revenues of $15 to $125 million. Marwit got its start as an SBIC in the 60s, investing in various parts of capital structures of middle market companies. The firm is run by Chris Britt and Matthew Witte, who launched the fund’s more formal buyout-related efforts in the mid-90s.

Marwit Capital has acquired Gregg Gift Company, a maker of licensed giftware products for Christian retail stores, Boot Barn, a western-themed specialty retailer, T and T Industries, a maker of twist ties, Fire Grill LLC, a Burger King franchisee, and Traffic Control & Safety Corp., a traffic control services business.

The firm did not immediately respond to press inquiries.