WMU-linked fund closes on first $21 million of fund, makes first acquisition Targeted to be a $50 million buyout fund Sees opportunity as enticing for executives who want to own a business Doug Lepisto An investment fund managed by two Western Michigan University professors, and affiliated with the university's Haworth College of Business, has held a first close of $21 million for what is targeted to be a $50 million buyout fund, and it has also closed on its first acquisition, a manufacturing firm in the Chicago area. Doug Lepisto, the managing partner of Kalamazoo-based Sleeping Giant Capital LLC, which manages the fund, said that under terms of the sale, details won't be disclosed until the CEO updates employees and customers. He said that he would like eventually to move the company to western Michigan and that a replacement CEO has been selected.