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Spec Limit Capital Team
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Managing Partner

Matt Littell
Mr. Littell is the founder of Spec Limit Capital which grew out of his consulting work for Benford Capital Partners and Argo Management Partners. Prior to founding Spec Limit Capital, Mr. Littell worked at GE Oil & Gas running a small oil and gas pipeline inspection services business. Previously at GE Energy, Mr. Littell held positions as a sourcing commodity leader, project manager, and shop floor supervisor. During his employment at GE, Mr. Littell attained certification as a Six Sigma Black Belt and graduated from GE Energy's Operations Management Leadership Program. Mr. Littell holds a BS in Mechanical Engineering from the University of Florida, a Masters of Engineering Management from Northwestern University, and an MBA from the Kellogg School of Management.

Limited Partners Include

Ed Benford
Mr. Benford is the Managing Partner of Benford Capital Partners, a Chicago-based private equity investment firm focused on leveraged buyouts and recapitalizations of lower middle market companies. Since its inception in November 2004, Benford Capital has acquired 5 portfolio companies including Space Electronics, Inc., BadgerLand Car Wash Equipment, Inc., U.S. Underwater Services, Inc., Ray Allen Manufacturing, Inc. and K&H Manufacturing, Inc. Prior to forming Benford Capital, Mr. Benford was a general partner of Prospect Partners, LLC, a Chicago-based private equity firm with $270 million under management. At Prospect Partners, Mr. Benford played key roles in the sourcing, closing and monitoring of over 16 investments and served on the Board of Directors of seven portfolio companies. Mr. Benford earned a BA from Vanderbilt University and an MBA from the University of Chicago.

John T. Fitzgerald
Mr. Fitzgerald is co-founder of Argo Management Partners, a Chicago-based private equity firm that has participated in 12 investments including Hunter MFG, LLP and Oak Patch Gifts. Prior to Argo Management Partners, Mr. Fitzgerald was Director of Adirondack Capital, LLC. Mr. Fitzgerald is an MBA graduate of the Kellogg School of Management, Northwestern University and holds a BS in finance, from DePaul University with highest honor, Beta Gamma Sigma.

Dan Campbell
Mr. Campbell is co-founder of Argo Management Partners, a Chicago-based private equity firm that has participated in 12 investments including Hunter MFG, LLP and Oak Patch Gifts. Prior to Argo Management Partners, Mr. Campbell worked as part of a management team backed by GTCR Golder Rauner. Prior to that, he worked as a private equity associate with Citicorp Venture Capital (CVC) - Latin America, and as a writer of case studies for publication by the Harvard Business School. Mr. Campbell graduated from the Richard Ivey School of Business at the University of Western Ontario in the Honors Business Administration (HBA) program and is an MBA graduate of the Kellogg School of Management, Northwestern University, with distinction, Beta Gamma Sigma.

Bill Sutter
Mr. Sutter is a Senior Managing Director at Hopewell Ventures and an Adjunct Professor of Finance at the Kellogg School of Management with more than 20 years of active private equity investing experience. Prior to Hopewell Ventures, Mr. Sutter led investments for Mesirow Financial totaling over $100 million in more than 25 portfolio companies, including four that completed an IPO. Mr. Sutter graduated cum laude from Yale University with a Bachelor’s in economics and earned his MBA from Stanford University

Richardo Forrer
Mr. Forrer is the Managing Partner of Toro Capital Management, a market making firm specializing in index and commodity option trading. Previously, Mr. Forrer was an options trader for the Royal Bank of Canada. Mr. Forrer holds a B.S. in Electrical Engineering from Rice University and an MBA from the University of Chicago.


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