UCLA and Penn State have denied a report Monday by Sportico that they have partnered with consulting firm Elevate to receive funding from its $500 million College Investment Initiative.Elevate formally announced the initiative earlier Monday and told news outlets that two schools had signed up with the project.However, UCLA and Penn State officials each denied Sportico’s reporting that they have engaged with the new fund. Both schools said they’re partnered with Elevate for ticketing operations but not for private equity.