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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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<SEC-DOCUMENT>0001140361-10-013633.txt : 20100325
<SEC-HEADER>0001140361-10-013633.hdr.sgml : 20100325
<ACCEPTANCE-DATETIME>20100325162236
ACCESSION NUMBER:		0001140361-10-013633
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100325
DATE AS OF CHANGE:		20100325
EFFECTIVENESS DATE:		20100325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Lyxor Apollo Distressed Fund Ltd
		CENTRAL INDEX KEY:			0001487965
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Y9
		FISCAL YEAR END:			0531

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-139955
		FILM NUMBER:		10704794

	BUSINESS ADDRESS:	
		STREET 1:		18 ESPLANADE
		CITY:			ST. HELIER
		STATE:			Y9
		ZIP:			JE4 8RT
		BUSINESS PHONE:		212-278-7700

	MAIL ADDRESS:	
		STREET 1:		18 ESPLANADE
		CITY:			ST. HELIER
		STATE:			Y9
		ZIP:			JE4 8RT
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0603</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001487965</cik>
        <entityName>Lyxor Apollo Distressed Fund Ltd</entityName>
        <issuerAddress>
            <street1>18 ESPLANADE</street1>
            <city>ST. HELIER</city>
            <stateOrCountry>Y9</stateOrCountry>
            <zipCode>JE4 8RT</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>212-278-7700</issuerPhoneNumber>
        <jurisdictionOfInc>JERSEY</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gildas</firstName>
                <middleName>Joseph Owen</middleName>
                <lastName>Briand</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>18 Esplanade</street1>
                <city>St. Helier</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE4 8PR</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Brian</firstName>
                <middleName>Christopher</middleName>
                <lastName>Chambers</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>18 Esplanade</street1>
                <city>St. Helier</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE4 8PR</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Thouraya</firstName>
                <lastName>Jarray</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>17, Cours Valmy</street1>
                <city>Paris-La Defense Cedex</city>
                <stateOrCountry>I0</stateOrCountry>
                <zipCode>92987</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Lionel</firstName>
                <lastName>Erdely</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>17, Cours Valmy</street1>
                <city>Paris-La Defense Cedex</city>
                <stateOrCountry>I0</stateOrCountry>
                <zipCode>92987</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Alastair</firstName>
                <middleName>William</middleName>
                <lastName>Torvaney</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>Le Rond Point</street1>
                <street2>Le Pont du Val</street2>
                <city>St. Brelade</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE3 8JP</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Gustav</firstName>
                <lastName>Meyer</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>La Rue de la Ville au Neveu</street1>
                <street2>Northdale</street2>
                <city>St. Ouen</city>
                <stateOrCountry>Y9</stateOrCountry>
                <zipCode>JE3 2DU</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
        </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>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-03-02</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>SG Americas Securities, LLC</recipientName>
                <recipientCRDNumber>128351</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>1221 Avenue of the Americas</street1>
                    <city>New York</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <zipCode>10020</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>160000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>SG Americas Securities, LLC is paid a continuing fee, out of the administrative fee, based on the fund's net asset value (&quot;NAV&quot;). That fee is currently set at up to 0.95% of NAV. As NAV may vary considerably, the fee's amount is not presently calculable.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The majority of the Lyxor funds' directors are employees of the funds' manager and are not paid to act as directors.  The only two paid directors are paid by the funds' manager for the overall funds of the Lyxor platform and not by each individual fund.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Lyxor Apollo Distressed Fund Ltd</issuerName>
                <signatureName>/s/ Robert O'Connell</signatureName>
                <nameOfSigner>Robert O'Connell</nameOfSigner>
                <signatureTitle>Attorney-In-Fact</signatureTitle>
                <signatureDate>2010-03-24</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----