Thursday, September 21, 2006
Michael Shore, MEDC (517) 335-4590
Bob Payne, Credit Suisse (248) 945-7373
$109 million gives Michigan one of the largest pools of capital in the country for economic diversification and job creation
LANSING Governor Jennifer M. Granholm today announced that the Michigan 21st Century Investment Fund is poised to invest $109 million to create and retain Michigan jobs. Private equity investment, mezzanine and venture capital funds that have a focus on Michigan companies are encouraged to apply.
stst Century Investment Fund.
Credit Suisse, which also manages the Venture Michigan Fund, has opened an office in Michigan led by Bob Payne, a respected veteran of the private equity investment management industry. Fund managers will be selected to receive capital through a competitive process. Interested private equity, mezzanine and venture capital managers can access the application from the 21st Century Investment Fund website at www.michigan21stcenturyinvestmentfund.com.
Credit Suisse anticipates making the first 21st Century Investment Fund commitments later this year.
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