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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001303308-10-000004.txt : 20100317
<SEC-HEADER>0001303308-10-000004.hdr.sgml : 20100317
<ACCEPTANCE-DATETIME>20100317140500
ACCESSION NUMBER:		0001303308-10-000004
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)(1)
FILED AS OF DATE:		20100317
DATE AS OF CHANGE:		20100317
EFFECTIVENESS DATE:		20100317

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Genesis Emerging Markets Business Trust
		CENTRAL INDEX KEY:			0001303308
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			NH

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-69360
		FILM NUMBER:		10688432

	BUSINESS ADDRESS:	
		STREET 1:		STATE STREET BANK AND TRUST CO OF NH
		STREET 2:		2 WALL STREET
		CITY:			MANCHESTER
		STATE:			NH
		ZIP:			03101
		BUSINESS PHONE:		44-01487-714-041

	MAIL ADDRESS:	
		STREET 1:		STATE STREET BANK AND TRUST CO OF NH
		STREET 2:		2 WALL STREET
		CITY:			MANCHESTER
		STATE:			NH
		ZIP:			03101
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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    <schemaVersion>X0603</schemaVersion>

    <submissionType>D/A</submissionType>

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        <cik>0001303308</cik>
        <entityName>Genesis Emerging Markets Business Trust</entityName>
        <issuerAddress>
            <street1>STATE STREET BANK AND TRUST CO OF NH</street1>
            <street2>2 WALL STREET</street2>
            <city>MANCHESTER</city>
            <stateOrCountry>NH</stateOrCountry>
            <zipCode>03101</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>44-01487-714-041</issuerPhoneNumber>
        <jurisdictionOfInc>NEW HAMPSHIRE</jurisdictionOfInc>
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        <entityType>Business Trust</entityType>
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    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>LLP</firstName>
                <lastName>Genesis Asset Manager,</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>(as Trustee)</firstName>
                <lastName>State Street Bank and Trust Company of NH</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2 Wall Street</street1>
                <city>Manchester</city>
                <stateOrCountry>NH</stateOrCountry>
                <zipCode>03101</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <lastName>Hallam</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Kings Mill Farm</street1>
                <street2>Kings Mills</street2>
                <city>Castel</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY5 7JT</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Operating Committee Member of Investment Manager of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mark</firstName>
                <lastName>Huntley</lastName>
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            <relatedPersonAddress>
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                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
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            <relationshipClarification>Operating Committee Member of Investment Manager of Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <lastName>Birkett</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Collins Stewart Wealth Management</street1>
                <street2>Collins Stewart House, The Grange</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 2QA</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Operating Committee Member of Investment Manager of Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mel</firstName>
                <lastName>Carvill</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PPF Partners Limited</street1>
                <street2>Generali House, Hirzel Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4PA</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Operating Committee Member of Investment Manager of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Karen</firstName>
                <lastName>Yerburgh</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
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            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Partner and Operating Committee Member of Investment Manager of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Martyn</firstName>
                <lastName>Ryan</lastName>
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                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Partner and Operating Committee Member of Investment Manager of Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Andrew</firstName>
                <lastName>Elder</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of Investment Manager of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Paul</firstName>
                <lastName>Ballantyne</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of Investment Manager of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Arindam</firstName>
                <lastName>Bhattacharjee</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of Investment Manager of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Paul</firstName>
                <lastName>Greatbatch</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
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                <relationship>Promoter</relationship>
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            <relationshipClarification>Partner of Investment Manager of Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>James</firstName>
                <lastName>Juracka</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
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            <relatedPersonRelationshipList>
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                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of Investment Manager of Issuer</relationshipClarification>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Evgeny</firstName>
                <lastName>Kuznetsov</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
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            <relatedPersonRelationshipList>
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            <relationshipClarification>Partner of Investment Manager of Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Catherine</firstName>
                <lastName>Vlasto</lastName>
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            <relatedPersonAddress>
                <street1>Heritage Hall</street1>
                <street2>Le Marchant Street</street2>
                <city>St. Peter Port</city>
                <stateOrCountry>Y7</stateOrCountry>
                <zipCode>GY1 4HY</zipCode>
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            <relatedPersonRelationshipList>
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                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner of Investment Manager of Issuer</relationshipClarification>
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    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-015773</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>1999-12-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
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        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>179400000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>2</totalNumberAlreadyInvested>
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        <salesCommissionsFindersFees>
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                <issuerName>Genesis Emerging Markets Business Trust</issuerName>
                <signatureName>/s/ Martyn Ryan</signatureName>
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                <signatureTitle>COO of Investment Manager</signatureTitle>
                <signatureDate>2010-03-17</signatureDate>
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-----END PRIVACY-ENHANCED MESSAGE-----