“capital commitment”整体指的是基金中的承诺出资制。指在基金募集(或首轮募集)的最后阶段，基金出资人只需将承诺出资总额的一定比例安排资金到位，基金即可宣告成立。剩余部分则在后续的基金运作中根据项目进度的需要陆续进行实缴。但具体到协议中时，有时也可根据具体语境译为“资本承诺额”。A Capital Commitment, Committed Capital or simply Commitment, is the agreed capital a General Partner can request (or draw down) from a Limited Partner. When an investor buys into a Private equity fund, the agreement specifies the total amount the investor commit to the fund. This amount is not requested initially from the Investor, but can be drawn down on request by the General Partner. When the General Partner decides to invest in a portfolio company, it will call, or drawn down some of the commitment.

承诺出资是有限合伙形式基金的特点之一，这一资本金陆续到位的认缴实缴制度已成为行业标准。操作上，首轮募集资金一般会快速投资于已就绪的投资项目。基金后续寻找、筛选并投资的项目，管理公司会根据实际情况向基金出资人发出缴纳通知(Capital Call)。在承诺出资后，基金出资人将在基金投资期内，根据管理公司的出资通知书分批缴纳资本金，直致累计的实际出资金额达到承诺出资总额。

与全部资金一次到位的出资方式相比，承诺出资制大大提高了资金的使用效率。闲置资金会产生时间成本，基金的闲置资金过多会降低基金的内部收益率(IRR)，对基金整体业绩产生负面影响。所以一般情况下管理公司不会要求出资人一次性缴纳全部出资，除非该基金为基于单一项目的基金，或者是其他特殊情况。同时，基金管理人需要考虑出资人延迟缴纳出资的情况，避免因为资金不足而失去投资机会。

以下为相关双语示例：

Notwithstanding the foregoing, the General Partner, the Investment Manager and their Affiliates shall use their reasonable discretion to allocate fairly and equitably any investment opportunity which arises among the Fund and the Other LBC Funds. In determining allocations, the General Partner, the Investment Manager and their Affiliates may take into account such factors as they deem appropriate, including, for example, investment objectives and focus, target investment size and target returns, available capital, the timing of capital inflows and outflows and anticipated capital commitments.

尽管有前述规定，普通合伙人、投资管理人及其关联方应在合理判断的基础上，公平合理地在基金和其他LBC基金之间分配投资机会。在确定分配金额时，普通合伙人、投资管理人及其关联方可将其认为适当的因素考虑在内，比如，包括投资目标和重点、目标投资规模和收益、可用资本、资本流出和流入的时机、预期的资本承诺额和认购额。