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Glossary · Fund economics

Carried interest (carry)

The GP's share of profits above a hurdle. Typically around 20%.

Why it matters

It is the GP's real upside — and the heart of LP/GP alignment.

Related

Hurdle / preferred return
The minimum LP return — often around 8% — that must be paid before the GP earns carry.
Catch-up
A clause that lets the GP catch up to its full carry share once the hurdle has been paid to LPs.
Waterfall
The contractual order in which proceeds are distributed between LPs and GP.

Words are easy. A match is hard.

GPX turns one deal document into a ranked, briefed shortlist of the lenders and investors that actually fit — debt and equity.

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