For the Pound Cake:

Step 1: Preheat your oven to 325°F (165°C). Grease and flour a 10-inch bundt or tube pan, ensuring all crevices are coated.

Step 2: In a large mixing bowl, cream the butter, shortening, and sugar together until light and fluffy, about 3-5 minutes. This step is crucial for achieving the cake’s signature airy texture.

Step 3: Add the eggs one at a time, mixing well after each addition. Scrape down the sides of the bowl to ensure all ingredients are evenly incorporated.

Step 4: In a separate bowl, sift together the flour, baking powder, and salt.

Step 5: Gradually add the dry ingredients to the butter mixture, alternating with the milk. Begin and end with the dry ingredients, mixing on low speed to avoid overbeating.

Step 6: Stir in the vanilla extract until just combined. Pour the batter into the prepared pan, smoothing the top with a spatula.

Step 7: Bake for 1 hour and 15 minutes to 1 hour and 30 minutes, or until a toothpick inserted into the center comes out clean. Allow the cake to cool in the pan for 10 minutes before turning it out onto a wire rack to cool completely.

For the Caramel Icing:

Step 1: In a medium saucepan, melt the butter over medium heat.

Step 2: Add the brown sugar and salt, stirring until the mixture is smooth and bubbly. Let it cook for 2 minutes, stirring constantly.

Step 3: Slowly whisk in the milk and bring the mixture to a boil. Remove from heat and let it cool for 5 minutes.

Step 4: Gradually add the powdered sugar, whisking until smooth. Stir in the vanilla extract.

Step 5: While the icing is still warm, pour it over the cooled pound cake, allowing it to drip down the sides. Use a spatula to spread it evenly if necessary.