-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 OHS391Y+xu20K8zkWIJPwJOElo8qnq6KnGSaUY2BvU+kkDuqLrOpd8fF4JQRCTuD
 KQvDVBrAZM0D2z50Jinoqg==

<SEC-DOCUMENT>0000935836-09-001250.txt : 20090811
<SEC-HEADER>0000935836-09-001250.hdr.sgml : 20090811
<ACCEPTANCE-DATETIME>20090811152342
ACCESSION NUMBER:		0000935836-09-001250
CONFORMED SUBMISSION TYPE:	D
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:		20090811
DATE AS OF CHANGE:		20090811
EFFECTIVENESS DATE:		20090811

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Covenant Income Appreciation Fund, L.P.
		CENTRAL INDEX KEY:			0001470094
		IRS NUMBER:				800455220
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-133531
		FILM NUMBER:		091003652

	BUSINESS ADDRESS:	
		STREET 1:		10914 HEFNER POINTE DRIVE
		STREET 2:		SUITE 304
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73120
		BUSINESS PHONE:		(405) 848-6999

	MAIL ADDRESS:	
		STREET 1:		10914 HEFNER POINTE DRIVE
		STREET 2:		SUITE 304
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73120
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0502</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001470094</cik>
        <entityName>Covenant Income Appreciation Fund, L.P.</entityName>
        <issuerAddress>
            <street1>10914 HEFNER POINTE DRIVE</street1>
            <street2>SUITE 304</street2>
            <city>OKLAHOMA CITY</city>
            <stateOrCountry>OK</stateOrCountry>
            <zipCode>73120</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(405) 848-6999</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <middleName></middleName>
                <lastName>Covenant Financial Services, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>10914 Hefner Pointe Drive, Suite 304</street1>
                <city>Oklahoma City</city>
                <stateOrCountry>OK</stateOrCountry>
                <zipCode>73120</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>E.</middleName>
                <lastName>Shafer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>10914 Hefner Pointe Drive, Suite 304</street1>
                <city>Oklahoma City</city>
                <stateOrCountry>OK</stateOrCountry>
                <zipCode>73120</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of Covenant Financial Services, LLC, General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Stephen</firstName>
                <middleName>R.</middleName>
                <lastName>Hartman</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>10914 Hefner Pointe Drive, Suite 304</street1>
                <city>Oklahoma City</city>
                <stateOrCountry>OK</stateOrCountry>
                <zipCode>73120</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>COO of Covenant Financial Services, LLC, 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>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <yetToOccur>true</yetToOccur>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Limited partner interests</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>200000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>0</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>0</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>None, although the general partner of the issuer receives investment management fees and a special profit allocation.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>Covenant Income Appreciation Fund, L.P.</issuerName>
                <signatureName>Stephen R. Hartman</signatureName>
                <nameOfSigner>Stephen R. Hartman</nameOfSigner>
                <signatureTitle>COO of Covenant Financial Services, LLC, GP</signatureTitle>
                <signatureDate>2009-08-11</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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