Bono fund recoups Forbes media investment

Bono’s investment fund Elevation Partners has recouped its investment in Forbes media as the company was sold to Asian investors.

20th July, 2014
Bono: firm salvaged its investment in Forbes Media. Photo: Getty

Bono’s investment fund Elevation Partners has recouped its investment in Forbes media as the company was sold to Asian investors. According to reports in the US, the deal valued the company at about $475 million.

Elevation Partners, the private equity firm co-founded by the U2 lead singer, bought a 45 per cent stake in Forbes eight years ago for $264 million. However, as the print downturn hit the company its revenues dropped and the...

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