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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001272840-11-000004.txt : 20110310
<SEC-HEADER>0001272840-11-000004.hdr.sgml : 20110310
<ACCEPTANCE-DATETIME>20110310122847
ACCESSION NUMBER:		0001272840-11-000004
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:		20110310
DATE AS OF CHANGE:		20110310
EFFECTIVENESS DATE:		20110310

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SANDALWOOD DEBT TRADERS FUND, L.P.
		CENTRAL INDEX KEY:			0001381373
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-96557
		FILM NUMBER:		11677476

	BUSINESS ADDRESS:	
		STREET 1:		101 EISENHOWER PKWY
		CITY:			ROSELAND
		STATE:			NJ
		ZIP:			07068
		BUSINESS PHONE:		973-228-5466

	MAIL ADDRESS:	
		STREET 1:		101 EISENHOWER PKWY
		CITY:			ROSELAND
		STATE:			NJ
		ZIP:			07068

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SANDALWOOD DEBT TRADERS FUND LP
		DATE OF NAME CHANGE:	20061117
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001381373</cik>
        <entityName>SANDALWOOD DEBT TRADERS FUND, L.P.</entityName>
        <issuerAddress>
            <street1>101 EISENHOWER PKWY</street1>
            <city>ROSELAND</city>
            <stateOrCountry>NJ</stateOrCountry>
            <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
            <zipCode>07068</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>973-228-5466</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>SANDALWOOD DEBT TRADERS FUND LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <middleName>n/a</middleName>
                <lastName>Sandalwood Associates I, Inc.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>101 Eisenhower Parkway</street1>
                <city>Roseland</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07608</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the Issuer (&quot;General Partner&quot;)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <middleName>n/a</middleName>
                <lastName>Sandalwood Securities Inc.</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>101 Eisenhower Parkway</street1>
                <city>Roseland</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07608</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager of the Issuer (&quot;Investment Manager&quot;)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Martin</firstName>
                <middleName>J.</middleName>
                <lastName>Gross</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>101 Eisenhower Parkway</street1>
                <city>Roseland</city>
                <stateOrCountry>NJ</stateOrCountry>
                <stateOrCountryDescription>NEW JERSEY</stateOrCountryDescription>
                <zipCode>07608</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>President and Sole Shareholder of the General Partner</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.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001381373-09-000006</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2004-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>39509304</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>Clarification of Response under Item 11:  The General Partner has the right, at its sole discretion, to accept reduced investments.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>61</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>SANDALWOOD DEBT TRADERS FUND, L.P.</issuerName>
                <signatureName>/s/ Michelle Peters</signatureName>
                <nameOfSigner>Michelle Peters</nameOfSigner>
                <signatureTitle>Authorized Signatory on behalf of Dechert LLP</signatureTitle>
                <signatureDate>2011-03-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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