Blackford Capital launched the Michigan Prosperity Fund in 2012 in an effort to assist the derailed Michigan economy, to protect and create jobs within the state, and halt the export of capital out of Michigan from out-of-state private equity funds acquiring Michigan businesses. Michigan Prosperity Fund is the first of its kind in the state and one of the few geographically focused LBO funds in the country. Today, there are eight companies in the fund.
Blackford has recruited some of the most accomplished leaders in Michigan to provide counsel for the Michigan Prosperity Fund. The Advisory Board provides strategic direction, industry specific experience, and relationships to assist with talent. The experience, leadership, and reach of the Advisory Board is a strategic advantage for the Michigan Prosperity Fund and creates a meaningful differentiator from other funds competing in the lower middle-market.
The Michigan Prosperity Fund Advisory Board includes:
Governor John Engler – Chairman, President of the Business Roundtable and former Michigan Governor
Mark Murray – Co-CEO and Vice Chairman of Meijer, Inc. and former Michigan Treasurer
Mary Petrovich – Carlyle Group Operating Executive and former Chairman and CEO of AxleTech International
David Porteous – Lead Director of Huntington Bank and former Chairman of the Board of Trustees of Michigan State University
Frank Newman – President of the Stow Company and former President and CEO of Medical Nutrition USA, Eckerd Corporation, and F&M Distributors
Cindy Pasky – Founder and CEO, Strategic Staffing Solutions and former Chair of the Detroit Downtown Partnership