-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Bcq41sb1MZnYxCPUCqgKdY2BsWvOmJgOr0D4nA8D5iVXVRDGBQ/T+VRJZrgLBh6w
 199J+5ka/pWKmxxGws9D2A==

<SEC-DOCUMENT>0001426895-09-000003.txt : 20090316
<SEC-HEADER>0001426895-09-000003.hdr.sgml : 20090316
<ACCEPTANCE-DATETIME>20090316162216
ACCESSION NUMBER:		0001426895-09-000003
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20090316
DATE AS OF CHANGE:		20090316
EFFECTIVENESS DATE:		20090316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATLAS INSTITUTIONAL FUND LTD
		CENTRAL INDEX KEY:			0001426895
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-114615
		FILM NUMBER:		09684597

	BUSINESS ADDRESS:	
		STREET 1:		C/O WALKERS SPV LTD
		STREET 2:		P.O. BOX 908 GT
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			BWI
		BUSINESS PHONE:		345-945-3727

	MAIL ADDRESS:	
		STREET 1:		C/O WALKERS SPV LTD
		STREET 2:		P.O. BOX 908 GT
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			BWI
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0301</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001426895</cik>
        <entityName>ATLAS INSTITUTIONAL FUND LTD</entityName>
        <issuerAddress>
            <street1>C/O WALKERS SPV LTD, P.O. BOX 908 GT</street1>
            <street2></street2>
            <city>GEORGE TOWN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>BWI</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>345-945-3727</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>E9</jurisdictionOfInc>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2006</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName></middleName>
                <lastName>Sutlic</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Close Brothers (Cayman) Limited</street1>
                <street2>P.O. Box 1034 GT, Harbour Place, 4th FL.</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>BWI</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lindburgh</firstName>
                <middleName></middleName>
                <lastName>Martin</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Close Brothers (Cayman) Limited</street1>
                <street2>P.O. Box 1034 GT, Harbour Place, 4th Fl.</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>BWI</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName></middleName>
                <lastName>Priaulx</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Close Brothers (Cayman) Limited</street1>
                <street2>P.O. Box 1034 GT, Harbour Place, 4th Fl.</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>BWI</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Mark</firstName>
                <middleName></middleName>
                <lastName>Mc Donnell</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Close Brothers (Cayman) Limited</street1>
                <street2>P.O. Box 1034 GT, Harbour Place, 4th Fl</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <zipCode>BWI</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Dmitry</firstName>
                <middleName></middleName>
                <lastName>Balyasny</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>181 W. Madison; Suite 3600</street1>
                <street2></street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60602</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Scott</firstName>
                <middleName></middleName>
                <lastName>Schroeder</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>181 W. Madison; Suite 3600</street1>
                <street2></street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60602</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Taylor</firstName>
                <middleName></middleName>
                <lastName>O'Malley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>181 W. Madison; Suite 3600</street1>
                <street2></street2>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <zipCode>60602</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>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>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-08-005916</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>20000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>103830000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>2361907</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>ATLAS INSTITUTIONAL FUND LTD</issuerName>
                <signatureName>SCOTT SCHROEDER</signatureName>
                <nameOfSigner>SCOTT SCHROEDER</nameOfSigner>
                <signatureTitle>SCOTT SCHROEDER</signatureTitle>
                <signatureDate>2009-03-16</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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