Five billion dollars is nothing to sneeze at. That's how much private equity firms invested in 35 Michigan companies last year -- most of which ended up in Metro Detroit. Nine companies in Oakland County landed nearly $3.3 billion alone. Currently, the state ranks No. 7 in private equity investment.
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"Michigan's ranking, bested only by California, Illinois, New York, Texas, Connecticut and Massachusetts, suggests that the Great Lakes State is pulling through the recession faster than most of the country, said David Brophy, director of the Center for Venture Capital and Private Equity at the University of Michigan's Ross School of Business.
"We're way ahead of a lot of other states, which are now where we were a year ago," Brophy said. "It means there's enthusiasm for more companies starting in Michigan."
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