A capital call, also known as a “draw down” is the method employed by a GP, deal lead, or fund administrator to solicit funds from investors or LPs. This process is usually initiated when a fund or SPV plans to make an investment or cover specific expenses. Generally, LPs contribute a portion of their total commitment at the time of signing their investment documents, which is referred to as the initial drawdown. The frequency at which additional capital is requested from LPs, also known as the fund’s capital schedule, is typically determined by the Limited Partner Agreement (LPA) signed by all LPs during their initial commitment.