Money

Big-name private equity firms are asking for bigger cuts of investment profits

There is lots of private equity talk right now about "super carry," following a Financial Times story about how some big-name firms are asking for a bigger cut of investment profits.

The big picture: Carried interest, the percentage of profits taken by fund managers, has historically been 20% for private equity. But the FT reports on 30% carry structures in new funds from Altor, Bain Capital, The Carlyle Group, EQT Partners, Eurazeo and Vista Equity Partners.

Notre Dame fire: Pledges to help rebuild cathedral tops more than $1 billion

The Notre Dame damage
The Notre Dame's spire collapsed as the fire spread from the roof to other parts of the building. Photo: Chesnot/Getty Images

More than €900 million ($1.1 billion) has been donated toward the fundraising effort to rebuild the Notre Dame Cathedral after a fire ravaged the building's roof and spire, Presidential cultural heritage envoy Stephane Bern told broadcaster BFM Paris Tuesday morning.

Why it matters: French President Emmanuel Macron said on Tuesday he wants the cathedral rebuilt in five years. People from around the world expressed their solidarity within minutes of the tragic fire unfolding, and companies and foundations have stepped up to help stabilize and rebuild one of Paris' most iconic structures.