Elevation Partners, the private equity firm started by Bono and some heavyweight Silicon Valley partners, has had enough drama to warrant its own Behind the Music. There was the near-bankruptcy of the firm’s $460 million investment in Palm; a risky $300 million bet on the online properties of Forbes, which didn’t pan out; and the $100 million purchase in 2005 of Move.com stock, which turned into a dud, its shares not trading remotely close to the conversion price.
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