Design
"Managed" refers to managed code that it is run in, or managed by, the .NET virtual machine that functions as a sandbox for enhanced security in the form of more runtime checks, such as buffer overrun checks. Additionally, applications written in Managed C++ compile to CIL — Common Intermediate Language — and not directly to native CPU instructions like regular C++ applications do.
Managed C++ code could inter-operate with any other language also targeted for the CLR such as C# and Visual Basic .NET as well as make use of features provided by the CLR such as garbage collection. This means Managed C++ occupies a unique position in the gallery of .NET languages. It is the only language that can communicate directly with .NET languages (such as C#, VB.NET) and native C++. The other .NET languages can only communicate with C++ code via PInvoke or COM. But since Managed C++ can communicate directly in both managed and standard C++ contexts, it is often used as a "bridge".
Read more about this topic: Managed Extensions For C++
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—John Adams (1735–1826)