-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Zn80/p/sxWrjKeyZKOHN6w==

<SEC-DOCUMENT>0000919574-10-001886.txt : 20100226
<SEC-HEADER>0000919574-10-001886.hdr.sgml : 20100226
<ACCEPTANCE-DATETIME>20100226111543
ACCESSION NUMBER:		0000919574-10-001886
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:		20100226
DATE AS OF CHANGE:		20100226
EFFECTIVENESS DATE:		20100226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PINE GROVE OFFSHORE FUND LTD
		CENTRAL INDEX KEY:			0001180121
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-47069
		FILM NUMBER:		10636864

	BUSINESS ADDRESS:	
		STREET 1:		MAYFLOWER MANAGEMENT SERVICES LTD
		STREET 2:		BAMBOO GATE, 11 HARBOUR ROAD
		CITY:			PAGET PGO1
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		(441) 236-6330

	MAIL ADDRESS:	
		STREET 1:		MAYFLOWER MANAGEMENT SERVICES LTD
		STREET 2:		BAMBOO GATE, 11 HARBOUR ROAD
		CITY:			PAGET PGO1
		STATE:			D0
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001180121</cik>
        <entityName>PINE GROVE OFFSHORE FUND LTD</entityName>
        <issuerAddress>
            <street1>MAYFLOWER MANAGEMENT SERVICES LTD</street1>
            <street2>BAMBOO GATE, 11 HARBOUR ROAD</street2>
            <city>PAGET PGO1</city>
            <stateOrCountry>D0</stateOrCountry>
            <zipCode>00000</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(441) 236-6330</issuerPhoneNumber>
        <jurisdictionOfInc>BERMUDA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Bermuda exempted company</entityTypeOtherDesc>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Arthur</firstName>
                <lastName>Williams III</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>25 DeForest Avenue</street1>
                <city>Summit</city>
                <stateOrCountry>NJ</stateOrCountry>
                <zipCode>07901</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Arthur Williams III is also an executive officer of Pine Grove International Management Company, L.L.C., the Investment Manager of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>C.R.</middleName>
                <lastName>Collis</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Conyers Dill &amp; Pearman</street1>
                <street2>Claredon House, 2 Church Street</street2>
                <city>Hamilton HM 11</city>
                <stateOrCountry>D0</stateOrCountry>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ian</firstName>
                <lastName>Pilgrim</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Mayflower Management Services Ltd.</street1>
                <street2>Bamboo Gate, 11 Harbour Road</street2>
                <city>Paget PG01</city>
                <stateOrCountry>D0</stateOrCountry>
                <zipCode>00000</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment 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>0000919574-09-006802</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>1998-08-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>500000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Smith Barney</recipientName>
                <recipientCRDNumber>7059</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>390 - 388 Greenwich Street</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10013-2396</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>Fairview Securities, Inc.</recipientName>
                <recipientCRDNumber>35703</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>137 Rowayton Avenue</street1>
                    <city>Rowayton</city>
                    <stateOrCountry>CT</stateOrCountry>
                    <zipCode>06853</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
            <recipient>
                <recipientName>UBS Securities LLC</recipientName>
                <recipientCRDNumber>7654</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>677 Washington Boulevard</street1>
                    <city>Stamford</city>
                    <stateOrCountry>CT</stateOrCountry>
                    <zipCode>06901</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>734258015</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>317</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>The entities listed in Item 12 are paid directly or indirectly commissions or similar sales compensation equal to a percentage of the fee paid to the Investment Manager (or its affiliate) from the assets under management and/or the incentive allocation.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The Investment Manager (or its affiliate) is entitled to receive an annual management fee in an amount equal to a specified percentage of assets under management.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>PINE GROVE OFFSHORE FUND LTD</issuerName>
                <signatureName>/s/ Arthur Williams III</signatureName>
                <nameOfSigner>Arthur Williams III</nameOfSigner>
                <signatureTitle>Director</signatureTitle>
                <signatureDate>2010-02-26</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----