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Dating as far back as the 14th century, carried interest originated with the seafaring traders of Renaissance Italy. They carried cargo on their ships that belonged to merchants on dry land and, as compensation for the risks and costs of sailing the seas, took a 20% cut of the profits from the sale of the "carried" merchandise. Carried interest was, and is, a reward for performance.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
