State a draw for private-equity now, experts say.(News)

Byline: Tom Henderson

The national mania for mergers and acquisitions should continue for at least the next year, and New York hedge-fund and private-equity money will continue to flow into Michigan seeking cheap deals for distressed companies.

That's the message heard by 260 attendees at a conference last Tuesday at the Glen Oaks Golf Course in Farmington Hills by the Detroit chapter of the Association for Corporate Growth.

"For Michigan, there's going to be a lot of hedge-fund, New York capital continue to be invested in auto. We'll see a lot o