-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IuyVrLO1KX7v5Cvy7EQstScpYRIMORF0mTBeeCDEWbE4nhHfyNwYMi6Xzv0g1dqI
 IgkvY0yd8fF12XRySH/7sg==

<SEC-DOCUMENT>0001327424-10-000004.txt : 20100309
<SEC-HEADER>0001327424-10-000004.hdr.sgml : 20100309
<ACCEPTANCE-DATETIME>20100308193851
ACCESSION NUMBER:		0001327424-10-000004
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)(7)
FILED AS OF DATE:		20100309
DATE AS OF CHANGE:		20100308
EFFECTIVENESS DATE:		20100309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Magnetar Constellation Fund Ltd
		CENTRAL INDEX KEY:			0001409506
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-107257
		FILM NUMBER:		10665048

	BUSINESS ADDRESS:	
		STREET 1:		Windward 1, Regatta Office Park
		STREET 2:		West Bay Road, PO Box 31106
		CITY:			Grand Cayman
		STATE:			E9
		ZIP:			KY1-1205
		BUSINESS PHONE:		(345) 949-3977

	MAIL ADDRESS:	
		STREET 1:		Windward 1, Regatta Office Park
		STREET 2:		West Bay Road, PO Box 31106
		CITY:			Grand Cayman
		STATE:			E9
		ZIP:			KY1-1205
</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>0001409506</cik>
        <entityName>Magnetar Constellation Fund Ltd</entityName>
        <issuerAddress>
            <street1>Citco Fund Services (Cayman Islands) Ltd</street1>
            <street2>89 Nexus Way 2nd Fl Camana Bay Box 31106</street2>
            <city>Grand Cayman</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>KY1-1205</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(345) 949-3977</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Cayman Islands Exempted</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <lastName>Magnetar Financial LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1603 Orrington Avenue</street1>
                <street2>13th Floor</street2>
                <city>Evanston</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Investment Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alec</firstName>
                <middleName>N</middleName>
                <lastName>Litowitz</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Magnetar Financial LLC</street1>
                <street2>1603 Orrington Avenue, 13th Floor</street2>
                <city>Evanston</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ross</firstName>
                <lastName>Laser</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Magnetar Financial LLC</street1>
                <street2>1603 Orrington Avenue, 13th Floor</street2>
                <city>Evanston</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <lastName>Turro</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Magnetar Financial LLC</street1>
                <street2>1603 Orrington Avenue, 13th Floor</street2>
                <city>Evanston</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alan</firstName>
                <lastName>Milgate</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Rawlinson &amp; Hunter</street1>
                <street2>One Capital Place, PO Box 897 GT</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>Cayman</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Richard</firstName>
                <middleName>E</middleName>
                <lastName>Douglas</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Rawlinson &amp; Hunter</street1>
                <street2>One Capital Place, PO Box 897 GT</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>Cayman</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>William</firstName>
                <middleName>E.J.</middleName>
                <lastName>Walmsley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Rawlinson &amp; Hunter</street1>
                <street2>One Capital Place, PO Box 897 GT</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>Cayman</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</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>0001409506-09-000004</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-03-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>n/a</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>n/a</street1>
                    <city>n/a</city>
                    <stateOrCountry>XX</stateOrCountry>
                    <zipCode>00000</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>1313421882</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>64</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>Magnetar Constellation Fund Ltd</issuerName>
                <signatureName>Michael Turro</signatureName>
                <nameOfSigner>Michael Turro</nameOfSigner>
                <signatureTitle>Chief Compliance Officer of the Investment Manager</signatureTitle>
                <signatureDate>2010-03-08</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----