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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Emdy544TPDnsMhzOUWb5HHz6S1TygZJTIy2kk4DrDp5PXjLAucOZk3njbwvq497k
 Rzl170FmOR8iKgKR5Y1QbQ==

<SEC-DOCUMENT>0001181431-10-039923.txt : 20100803
<SEC-HEADER>0001181431-10-039923.hdr.sgml : 20100803
<ACCEPTANCE-DATETIME>20100803164053
ACCESSION NUMBER:		0001181431-10-039923
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100408
FILED AS OF DATE:		20100803
DATE AS OF CHANGE:		20100803

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PNC ALTERNATIVE STRATEGIES FUND LLC
		CENTRAL INDEX KEY:			0001198144
		IRS NUMBER:				470892581
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		TWO HOPKINS PLAZA
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21201
		BUSINESS PHONE:		800-239-0418

	MAIL ADDRESS:	
		STREET 1:		TWO HOPKINS PLAZA
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MERCANTILE ALTERNATIVE STRATEGIES FUND LLC
		DATE OF NAME CHANGE:	20021223

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MERCANTILE SMALL CAP MANAGER FUND LLC
		DATE OF NAME CHANGE:	20021021

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MERCANTILE CAPITAL OPPORTUNITIES FUND LLC
		DATE OF NAME CHANGE:	20021011

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PNC INVESTMENT CORP
		CENTRAL INDEX KEY:			0000905582

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21257
		FILM NUMBER:		10988105

	BUSINESS ADDRESS:	
		STREET 1:		249 FIFTH AVE.
		STREET 2:		ONE PLAZA, 21ST FLOOR
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222
		BUSINESS PHONE:		2155855350

	MAIL ADDRESS:	
		STREET 1:		222 DELAWARE AVNUE
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19899
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>rrd281965.xml
<DESCRIPTION>PNCI FORM 4A PASF 6 30 10
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2010-04-08</periodOfReport>

    <dateOfOriginalSubmission>2010-04-09</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001198144</issuerCik>
        <issuerName>PNC ALTERNATIVE STRATEGIES FUND LLC</issuerName>
        <issuerTradingSymbol>NONE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000905582</rptOwnerCik>
            <rptOwnerName>PNC INVESTMENT CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>300 DELAWARE AVENUE, SUITE 304</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WILMINGTON</rptOwnerCity>
            <rptOwnerState>DE</rptOwnerState>
            <rptOwnerZipCode>19801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Limited Liability Company Interest</value>
            </securityTitle>
            <transactionDate>
                <value>2010-04-08</value>
                <footnoteId id="F1"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>750000</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>750000</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>12273790.88</value>
                    <footnoteId id="F3"/>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The transaction reported on this amendment to Form 4 is the sale by the reporting person of a portion of its limited liability company interests (the &quot;interests&quot;) to the issuer pursuant to an issuer tender offer. Under the terms of the offer, the issuer accepted interests that were tendered by the reporting person when the issuer gave written notice on April 8, 2010 to the reporting person of the issuer's election to purchase the interests. The transaction date listed is the date the reporting person received the written notice.  However, as noted below, the amount to be paid by the issuer is based on the net asset value of the purchased interests on June 30, 2010.</footnote>
        <footnote id="F2">Under the terms of the offer, the reporting person's interests are being purchased by the issuer based on the net asset value of the reporting person's interest (the value of the issuer's assets minus its liabilities, multiplied by the proportionate interest in the issuer of the reporting person's interests purchased in the offer), calculated as of June 30, 2010.  On August 2, 2010 the reporting person received a communication from the issuer indicating that the net asset value at June 30, 2010 of the reporting person's interests sold in the tender offer (and, therefore, the price the issuer is paying for the interests) is $750,000.</footnote>
        <footnote id="F3">The amount reported as beneficially owned following the transaction is equal to the reporting person's capital account balance in the issuer, calculated as of June 30, 2010.  The issuer provided information as to this amount in a August 2, 2010 communication to the reporting person.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/Peter M. Chiste, Vice President</signatureName>
        <signatureDate>2010-08-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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