Who owns elevation partners

That said, the idea that Palm will go to zero being pushed by some of the many people shorting the stock is a stretch. Will Palm be the win Elevation was hoping for? Similarly, Elevation will almost assuredly have a harder time raising its second fund. Some LPs will likely walk, and the fund may be smaller. Lorem ipsum dolor sit amet. Lorem ipsum Lorem ipsum dolor sit, amet consectetur adipisicing elit. Find contact info for Elevation Partners employees Find Info.

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Subscriber Account active since. Bodnick did not return messages. Elevation officially declined to comment about Bodnick, but an insider, speaking on the condition of anonymity, said Bodnick had exaggerated his contribution to Elevation's success. This is all a far cry from the happy days of , when Bono, with much buzz and fanfare, joined with a handful of Valley big shots to form Elevation—the name comes from a U2 song—with the mission of investing in digital media and entertainment companies.

Their idea was that as the media business moved online, there was a chance to make big money betting on the right companies. But then came some bad bets, like a stake in Forbes magazine, which has suffered a steep decline and is almost certainly worth a good deal less today than it was back then. Full disclosure: I was working at Forbes at the time of the Elevation investment. But Palm fell short, and in was sold to HP. Elevation claims it made a 5 percent profit on its investment.

The second was that it negotiated a so-called put option that would allow the firm to force the Forbes family to pay back its investment by That most likely put pressure on the Forbes family to explore a sale before the deadline. Again, the firm held a big portion of preferred shares, entitling it to the first cut of a significant portion of the proceeds.

The firm has raised just one fund, dating to , and its management has been paying back capital to investors.