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WMU-linked fund closes on first $21 million of fund, makes first acquisition


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. ....

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