Distribution of Carried Interest in which Profits are distributed in the aggregate for the portfolio, generally at the end of the fund life. Also known as Back-end Carry, European-style Carry or Waterfall. See also Deal-by-Deal Carry.
Global Definitions Database
Full-Pool Carry (Waterfall)
Source: NCREIF | Date: 05 September 2025 | ID: D1163 | Version: 1