DOCUMENTEDPrimary document read. Citation displayed.

Two Elevate executives' offer letters promised them carried interest from the Growth Fund, the fund the $25 million of public returns was to seed. The auditor found no evidence Elevate disclosed those personal interests to the state while negotiating the fund.

2025-10-02

The passage

FTI has found no evidence that EV management's potential personal financial interests were disclosed to the IEDC in connection with the negotiation of the Growth Fund.

The document

Document: FTI Consulting, IEDC Forensic Review, Finding 5, p. 59
Dated: 2025-10-02
Source: open the primary
Archived: primaries/elevate/fti-iedc-forensic-review-2025-10-02.pdf

Who read it

joe, direct read 2026-09-08.