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<SEC-DOCUMENT>0001451315-10-000005.txt : 20100415
<SEC-HEADER>0001451315-10-000005.hdr.sgml : 20100415
<ACCEPTANCE-DATETIME>20100414182612
ACCESSION NUMBER:		0001451315-10-000005
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:		20100415
DATE AS OF CHANGE:		20100414
EFFECTIVENESS DATE:		20100415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KEYSTONE PRIVATE EQUITY OPPORTUNITIES II LP
		CENTRAL INDEX KEY:			0001451315
		IRS NUMBER:				263244490
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-124891
		FILM NUMBER:		10750379

	BUSINESS ADDRESS:	
		STREET 1:		5000 EXECUTIVE PARKWAY
		STREET 2:		SUITE 445
		CITY:			San Ramon
		STATE:			CA
		ZIP:			94583
		BUSINESS PHONE:		9254073120

	MAIL ADDRESS:	
		STREET 1:		5000 EXECUTIVE PARKWAY
		STREET 2:		SUITE 445
		CITY:			San Ramon
		STATE:			CA
		ZIP:			94583
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
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        <cik>0001451315</cik>
        <entityName>KEYSTONE PRIVATE EQUITY OPPORTUNITIES II LP</entityName>
        <issuerAddress>
            <street1>5000 EXECUTIVE PARKWAY</street1>
            <street2>SUITE 445</street2>
            <city>San Ramon</city>
            <stateOrCountry>CA</stateOrCountry>
            <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
            <zipCode>94583</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>9254073120</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
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        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Keystone Opportunities II GP, LLC</lastName>
            </relatedPersonName>
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                <street1>5000 Executive Parkway</street1>
                <street2>Suite 445</street2>
                <city>San Ramon</city>
                <stateOrCountry>CA</stateOrCountry>
                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94583</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brandon</firstName>
                <lastName>Nielson</lastName>
            </relatedPersonName>
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                <street2>Suite 445</street2>
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                <stateOrCountryDescription>CALIFORNIA</stateOrCountryDescription>
                <zipCode>94583</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the General Partner of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <lastName>Earl</lastName>
            </relatedPersonName>
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                <zipCode>94583</zipCode>
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            <relationshipClarification>Director of the General Partner of the Issuer.</relationshipClarification>
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    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Venture Capital 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>
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            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001451315-10-000004</previousAccessionNumber>
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            <dateOfFirstSale>
                <value>2008-11-08</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Brent Cochran</recipientName>
                <recipientCRDNumber>2361173</recipientCRDNumber>
                <associatedBDName>Cambridge Investment Research Inc</associatedBDName>
                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>6465 S. 3000 East, Suite 200</street1>
                    <city>Salt Lake City</city>
                    <stateOrCountry>UT</stateOrCountry>
                    <stateOrCountryDescription>UTAH</stateOrCountryDescription>
                    <zipCode>84121</zipCode>
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                    <description>CALIFORNIA</description>
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                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>David A. Russon</recipientName>
                <recipientCRDNumber>1194052</recipientCRDNumber>
                <associatedBDName>Cambridge Investment Research, Inc.</associatedBDName>
                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
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                    <street1>6465 S. 3000 East, Suite 200</street1>
                    <city>Salt Lake City</city>
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                    <state>OR</state>
                    <description>OREGON</description>
                    <state>TX</state>
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                    <description>UTAH</description>
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                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Daniel Rhett Jeppson</recipientName>
                <recipientCRDNumber>2992473</recipientCRDNumber>
                <associatedBDName>Cambridge Investment Research, Inc.</associatedBDName>
                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
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                    <street1>6465 S. 3000 East, Suite 200</street1>
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                <recipientName>Allen Neuenschwander</recipientName>
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                    <street1>600 Travis Street, Suite 5800</street1>
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                    <stateOrCountry>TX</stateOrCountry>
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                    <zipCode>77002</zipCode>
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                <recipientName>Andrew H. Walker</recipientName>
                <recipientCRDNumber>4823479</recipientCRDNumber>
                <associatedBDName>SMH Capital Inc.</associatedBDName>
                <associatedBDCRDNumber>20580</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2550 Gaskins Road</street1>
                    <city>Richmond</city>
                    <stateOrCountry>VA</stateOrCountry>
                    <stateOrCountryDescription>VIRGINIA</stateOrCountryDescription>
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            <recipient>
                <recipientName>Tom Genco</recipientName>
                <recipientCRDNumber>2957076</recipientCRDNumber>
                <associatedBDName>SMH Capital Inc.</associatedBDName>
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                <recipientName>Daniel L. Bonder</recipientName>
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                <recipientName>Lei Wang</recipientName>
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                    <city>Windsor</city>
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                    <stateOrCountryDescription>CONNECTICUT</stateOrCountryDescription>
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                    <state>CT</state>
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                <recipientName>Harry P. Consaul III</recipientName>
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                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
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                    <street1>6300 Ridglea Place</street1>
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                    <city>Fort Worth</city>
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                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>76116</zipCode>
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                    <state>TX</state>
                    <description>TEXAS</description>
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                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Michael S. Franklin</recipientName>
                <recipientCRDNumber>4747047</recipientCRDNumber>
                <associatedBDName>National Planning Corporation</associatedBDName>
                <associatedBDCRDNumber>29604</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2750 William D. Tate Avenue</street1>
                    <street2>Suite 100</street2>
                    <city>Grapevine</city>
                    <stateOrCountry>TX</stateOrCountry>
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                    <zipCode>76051</zipCode>
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                    <state>TX</state>
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            <recipient>
                <recipientName>Jason B. Hill</recipientName>
                <recipientCRDNumber>4836904</recipientCRDNumber>
                <associatedBDName>Cambridge Investment Research</associatedBDName>
                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
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                    <street1>8100 E. 22nd N.</street1>
                    <street2>Bldg. 1400-2</street2>
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                    <stateOrCountry>KS</stateOrCountry>
                    <stateOrCountryDescription>KANSAS</stateOrCountryDescription>
                    <zipCode>67226</zipCode>
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                <statesOfSolicitationList>
                    <state>KS</state>
                    <description>KANSAS</description>
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            <recipient>
                <recipientName>Michael D. Kaufman</recipientName>
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                <associatedBDName>Cambridge Investment Research</associatedBDName>
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                    <description>TEXAS</description>
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            <recipient>
                <recipientName>Monte C. Ferguson</recipientName>
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                <associatedBDName>Cambridge Investment Research</associatedBDName>
                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
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                    <city>Fort Worth</city>
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                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>76116</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>FL</state>
                    <description>FLORIDA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
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            <recipient>
                <recipientName>John Richard Coe</recipientName>
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                <associatedBDName>Cambridge Investment Research</associatedBDName>
                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
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                    <street1>8100 E. 22nd N.</street1>
                    <street2>Bldg. 1400-2</street2>
                    <city>Wichata</city>
                    <stateOrCountry>KS</stateOrCountry>
                    <stateOrCountryDescription>KANSAS</stateOrCountryDescription>
                    <zipCode>67226</zipCode>
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                <statesOfSolicitationList>
                    <state>KS</state>
                    <description>KANSAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Jimmy Dale Mullins</recipientName>
                <recipientCRDNumber>2325029</recipientCRDNumber>
                <associatedBDName>Cambridge Investment Research</associatedBDName>
                <associatedBDCRDNumber>39543</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>120 W. 3rd Street</street1>
                    <city>Ft. Worth</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <stateOrCountryDescription>TEXAS</stateOrCountryDescription>
                    <zipCode>76102</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>TX</state>
                    <description>TEXAS</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Joseph Sterling</recipientName>
                <recipientCRDNumber>1101378</recipientCRDNumber>
                <associatedBDName>Geneos Wealth Management</associatedBDName>
                <associatedBDCRDNumber>120894</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>7570 W. 147th Street, Suite 100</street1>
                    <city>Apple Valley</city>
                    <stateOrCountry>MN</stateOrCountry>
                    <stateOrCountryDescription>MINNESOTA</stateOrCountryDescription>
                    <zipCode>55124</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>MN</state>
                    <description>MINNESOTA</description>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>150000000</totalOfferingAmount>
            <totalAmountSold>73500000</totalAmountSold>
            <totalRemaining>76500000</totalRemaining>
            <clarificationOfResponse>Offering and sales amounts have been aggregated for the issuer and Keystone Private Equity Opportunities II (Q), L.P., a parallel vehicle of the issuer.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>89</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>400000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>Sales commissions include amounts paid in connection with the offering of interests in Keystone Private Equity Opportunities II (Q), L.P., a parallel vehicle of the issuer.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>KEYSTONE PRIVATE EQUITY OPPORTUNITIES II LP</issuerName>
                <signatureName>/s/ John Earl</signatureName>
                <nameOfSigner>John Earl</nameOfSigner>
                <signatureTitle>Director of Issuer's GP</signatureTitle>
                <signatureDate>2010-04-14</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----