Caret in argument list c++

So I found this in the MSDN libs:

void Form1_KeyPress(Object^ sender, KeyPressEventArgs^ e)

what do the carets mean in an argument list? Is it some sort of explicit pass-by-value? I've never seen it before.

>>8
Incidentally, sea octothorpe is more cross-platform than Java, not to mention GUI toolkits.