US - Michigan governor Jennifer M. Granholm plans to invest US$300m of Michigan's state pension fund in Michigan-based companies, it was announced last week.
"These investments in Michigan-based companies, in turn, will grow our pension funds. Invest Michigan! is a program that will put Michigan money to work building Michigan's economic future."
Ganhold added Invest Michigan! would be managed by three professional investment companies with successful track records in the industry.
A business leadership council, composed of Michigan business leaders chaired by Roger Penske, would help the fund achieve success by sourcing, mentoring, monitoring, and giving input into investments in areas of their expertise, she concluded.
For a full analysis, please refer to the upcoming weekly edition of Global Pensions.
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