Tuesday, July 18, 2006
Credit Suisse Chosen to Manage Jobs for Michigan Investment Fund
Governor Granholm and Michigan Economic Development Corporation President and CEO James C. Epolito today announced the Michigan Strategic Fund (MSF) has contracted with Credit Suisse to develop and administer investment programs under the Jobs for Michigan Investment Fund, a key component of the 21st Century Jobs Trust Fund initiative. The State Administrative Board approved the contract today.
A total of five investment firms submitted bids in response to the Request for Proposals which was publicly launched on April 20.
The MSF board has dedicated up to $114 million in 2006 and 2007 for investment programs in qualified private equity, mezzanine and venture capital funds, with up to $400 million available over the course of the 21st Century Jobs Trust Fund.
The MEDC provides administrative services to the MSF Board on 21st
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life. For more information on MEDC initiatives and programs, visit the Web site atwww.michigan.org.
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