So is carry-free the same as carried interest? it looks like it which means they don't contribute to the cost at all?
carried interest
A carried interest is a participation in an investment venture where the holder gets a share of the cash generated by the project (profits or cash flow) without having to contribute anything to the venture’s costs. The holder of such an interest is “carried” in the sense that the other venture participants pick up the burden of his share of project expenses.
Carried interests aren’t just a private equity phenomenon. They’re very common in the mining industry, which is where I first encountered them thirty years ago. But they also occur in lots of other industries, particularly those where highly specialized experience or skills, or possession of crucial physical resources are key to a project’s success. In the extractive industries, holders of mineral rights may be carried. The fund raisers or organizers of any sort of projects may be carried, as well. So, too, famous actors or holders of key intellectual property.