COMMENDAE MAY BE CONSIDERED MEDIEVAL PREDECESSORS OF MODERN PRIVATE EQUITY PARTNERSHIPS.
Excerpt of a commenda between Johannes Matthie of Amalfi and Sergii Frecza of Ravelli, dated May 3rd 1254:
„ ... et ego inde tollere debeam mihi ipsa quartam partem pro labore et fatica mea.“
(... and I shall be entitled to the fourth part for my labour and hardship.)