-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 H12gKhR0yDlraKBAPZ6IBaOQmyOd7ExClIMvjozHT0ZE8FbQ8gywdne9k6ByqBM5
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<SEC-DOCUMENT>0001054215-09-000003.txt : 20090313
<SEC-HEADER>0001054215-09-000003.hdr.sgml : 20090313
<ACCEPTANCE-DATETIME>20090313144515
ACCESSION NUMBER:		0001054215-09-000003
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20090313
DATE AS OF CHANGE:		20090313
EFFECTIVENESS DATE:		20090313

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CATALYST FUND L P
		CENTRAL INDEX KEY:			0001054215
		IRS NUMBER:				943223222
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-50757
		FILM NUMBER:		09679477

	BUSINESS ADDRESS:	
		STREET 1:		ONE FERRY BUILDING
		STREET 2:		SUITE 255
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
		BUSINESS PHONE:		415-677-1575

	MAIL ADDRESS:	
		STREET 1:		ONE FERRY BUILDING
		STREET 2:		SUITE 255
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94111
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0201</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001054215</cik>
        <entityName>CATALYST FUND L P</entityName>
        <issuerAddress>
            <street1>ONE FERRY BUILDING</street1>
            <street2>SUITE 255</street2>
            <city>SAN FRANCISCO</city>
            <stateOrCountry>CA</stateOrCountry>
            <zipCode>94111</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>415-677-1575</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>(General Partner)</firstName>
                <middleName></middleName>
                <lastName>Catalyst Capital Management, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>767 Third Avenue, 32nd Floor</street1>
                <street2></street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General and/or Managing Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Francis</firstName>
                <middleName>X.</middleName>
                <lastName>Gallagher</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>767 Third Avenue, 32nd Floor</street1>
                <street2>c/o Catalyst Capital Management, LLC</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Peter</firstName>
                <middleName>A.</middleName>
                <lastName>Drippe</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>767 Third Avenue, 32nd Floor</street1>
                <street2>c/o Catalyst Capital Management, LLC</street2>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10017</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-04-047797</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2005-05-02</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1500000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>70338898</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>The General Partner may in its discretion, accept less than the minimum investment amount.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>26</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>Customary advisory fees are paid by the Issuer to the General Partner/Managing Member/Investment Manager (as applicable) as provided for in the Issuer's offering materials.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>CATALYST FUND L P</issuerName>
                <signatureName>Peter A. Drippe</signatureName>
                <nameOfSigner>Peter A. Drippe</nameOfSigner>
                <signatureTitle>Managing Member of the General Partner of the Issuer</signatureTitle>
                <signatureDate>2009-03-13</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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