Private equity fund backed by DeVos and Penske raises $100 million

Jeff Helminski, chief executive of Auxo, said the fundraising period spans two separate periods, with the fund initially launching during the “COVID haze” and completing its fundraising as further uncertainties arise. focus on changing economic conditions.

“I think the concept remains consistent,” Helminski told Crain’s on Monday of the fundraising period. “And the validity of the thesis has never been questioned.”

The Michigan Opportunity Fund, Auxo’s second private equity fund, will primarily focus on Michigan buyout deals across all sectors, particularly with baby boomer founders looking to make the transition but maintaining their company culture, Helminiski said.

“For people who really care about who’s next, who want the right successor or especially want to partner together to continue to grow the business, it’s hard to imagine a potential buyer would be a better fit than the Michigan Opportunity Fund,” Helminski said. said.

Sam Valenti, a longtime Michigan investor, CEO of Bloomfield Hills-based family office Valenti Capital and an adviser to Auxo Investment, agreed with that sentiment.

“It’s the right fund at the right time with the right management team,” Valenti told Crain’s. “The structure of the fund is perfectly suited to the investment environment of the next decade.”

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