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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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 Pef4tgl5SKDvBrkgtYEk4Q==

<SEC-DOCUMENT>0001140361-10-011581.txt : 20100312
<SEC-HEADER>0001140361-10-011581.hdr.sgml : 20100312
<ACCEPTANCE-DATETIME>20100312153025
ACCESSION NUMBER:		0001140361-10-011581
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100312
DATE AS OF CHANGE:		20100312
EFFECTIVENESS DATE:		20100312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EJF INVESTMENT GRADE FUND LP
		CENTRAL INDEX KEY:			0001460182
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-128932
		FILM NUMBER:		10677600

	BUSINESS ADDRESS:	
		STREET 1:		2107 WILSON BLVD
		STREET 2:		#410
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22201
		BUSINESS PHONE:		703-875-0591

	MAIL ADDRESS:	
		STREET 1:		2107 WILSON BLVD
		STREET 2:		#410
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22201
</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>0001460182</cik>
        <entityName>EJF INVESTMENT GRADE FUND LP</entityName>
        <issuerAddress>
            <street1>2107 WILSON BLVD</street1>
            <street2>#410</street2>
            <city>ARLINGTON</city>
            <stateOrCountry>VA</stateOrCountry>
            <zipCode>22201</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>703-875-0591</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Emanuel</firstName>
                <middleName>J.</middleName>
                <lastName>Friedman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2107 WILSON BLVD.</street1>
                <street2>#410</street2>
                <city>ARLINGTON</city>
                <stateOrCountry>VA</stateOrCountry>
                <zipCode>22201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>of the Sole Member of the Issuer's General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Neal</firstName>
                <middleName>J.</middleName>
                <lastName>Wilson</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2107 WILSON BLVD.</street1>
                <street2>#410</street2>
                <city>ARLINGTON</city>
                <stateOrCountry>VA</stateOrCountry>
                <zipCode>22201</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>of the Sole and Managing Member of the Issuer's 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.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-09-012850</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-03-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>WFG Investments, Inc.</recipientName>
                <recipientCRDNumber>22704</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>12221 Merit Drive</street1>
                    <street2>Suite 300</street2>
                    <city>Dallas</city>
                    <stateOrCountry>TX</stateOrCountry>
                    <zipCode>75251</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>26447995</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>50</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>11739</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>EJF INVESTMENT GRADE FUND LP</issuerName>
                <signatureName>/s/  Neal J. Wilson</signatureName>
                <nameOfSigner>Neal J. Wilson</nameOfSigner>
                <signatureTitle>Chief Operating Officer of Sole Member of Issuer's GP</signatureTitle>
                <signatureDate>2010-03-11</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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