Elevation Partners Doubles Fund’s Target

Elevation Partners, the private-equity group whose partners include rock star Bono, doubled the amount of money it is seeking from investors to $2 billion, according to a regulatory filing Thursday.

The increase suggests the Menlo Park, Calif.-based group has many investors stepping up to participate in its fund, which would invest in media and entertainment companies.

In addition to Bono, the 44-year-old lead singer of the Irish band U2, Elevation’s executives include veterans from the buyout and technology businesses.

“Given the profile of that team ... it’s no surprise they have gotten a pretty strong response from the market,” said Bradley Atkins, chief of Franklin Park Associates, a Bala Cynwyd, Pa., firm that advises pension plans on private investments.