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Capital call schedule calculator
Enter a commitment, the investment period, the share called in year one, calls per year and any reserve left uncalled. The calculator shows what each year and each notice draws, for an LP's planning or a GP's cash plan.
Fund and deal returns
Called in year one
$1,350,000
- Called each later year
- $1,050,000
- Size of each year-one call
- $450,000
- Number of calls
- 12
- Left uncalled
- $500,000
Planning estimate from the figures you enter. Not investment, tax or legal advice.
How it is calculated
- Callable capital = commitment x (1 minus the reserve).
- Year one = callable x the year-one share.
- Each later year = the rest of callable capital spread evenly over the remaining years.
- Year-one call size = year one / calls a year.
Worked example: A $5 million commitment over four years
| Callable capital (10% reserve) | $4,500,000 |
| Year one (30%) | $1,350,000 |
| Years two to four | $1,050,000 each |
| Each year-one call | $450,000 |
| Calls in total | 12 |
Notice periods
LPAs usually give LPs ten business days or so to fund a call. A capital call notice states the amount, the purpose (investment, fees, expenses) and wiring details. Wire fraud is a known risk: confirm bank details by phone, never only by email.
Where notices live
After the final close, the data room often becomes the LP portal: capital call notices, distribution notices, quarterly reports and K-1s, each LP seeing only its own documents. Permissions by investor matter more here than during the raise.
Subscription lines
Many funds bridge calls with a subscription credit facility, which smooths the schedule but affects IRR. LPs ask about it in the DDQ; describe the facility and its limits plainly.
Mistakes to avoid
- Sending call notices by email with wiring details anyone can change.
- Giving every LP access to every notice.
- Not explaining a subscription line in the DDQ.
- Planning firm costs on an even call schedule when deals are lumpy.
Questions and answers
What happens if an LP misses a call?
LPAs set default remedies, which can include interest, loss of part of the interest in the fund or a forced sale. Read your LPA for the exact terms.
Can a data room deliver capital call notices?
Yes. Many managers post notices in a room with one folder per LP and alert LPs by email, so the record of who opened each notice is kept.
Are calls always even?
No. Calls follow deals, so they are lumpy. This tool shows an even planning schedule.