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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000919574-09-016520.txt : 20091118
<SEC-HEADER>0000919574-09-016520.hdr.sgml : 20091118
<ACCEPTANCE-DATETIME>20091118094907
ACCESSION NUMBER:		0000919574-09-016520
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:		20091118
DATE AS OF CHANGE:		20091118
EFFECTIVENESS DATE:		20091118

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Vertical Partners L.P.
		CENTRAL INDEX KEY:			0001094207
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-67460
		FILM NUMBER:		091192215

	BUSINESS ADDRESS:	
		STREET 1:		C/O GOODNOW INVESTMENT GROUP LLC
		STREET 2:		9 OLD KINGS HIGHWAY, SUITE 300
		CITY:			DARIEN, CONNECTICUT
		STATE:			CT
		ZIP:			06820
		BUSINESS PHONE:		(203) 655-6272

	MAIL ADDRESS:	
		STREET 1:		C/O GOODNOW INVESTMENT GROUP LLC
		STREET 2:		9 OLD KINGS HIGHWAY, SUITE 300
		CITY:			DARIEN, CONNECTICUT
		STATE:			CT
		ZIP:			06820

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VERTICAL PARTNERS LP
		DATE OF NAME CHANGE:	19990831
</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>0001094207</cik>
        <entityName>Vertical Partners L.P.</entityName>
        <issuerAddress>
            <street1>c/o Goodnow Investment Group, LLC</street1>
            <street2>9 Old King's Highway South, Suite 300</street2>
            <city>Darien</city>
            <stateOrCountry>CT</stateOrCountry>
            <zipCode>06820</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(203) 655-6272</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList></issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>VERTICAL PARTNERS LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Matthew</firstName>
                <middleName>J.</middleName>
                <lastName>Cosciello</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Goodnow Investment Group, LLC</street1>
                <street2>9 Old King's Highway South, Suite 300</street2>
                <city>Darien</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06820</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Matthew J. Cosciello is an executive officer of Goodnow Investment Group, LLC, the General Partner of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Peter</firstName>
                <middleName>J.</middleName>
                <lastName>Gavey</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Goodnow Investment Group, LLC</street1>
                <street2>9 Old King's Highway South, Suite 300</street2>
                <city>Darien</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06820</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Peter J. Gavey is an executive officer of Goodnow Investment Group, LLC, the General Partner of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Edward</firstName>
                <middleName>B.</middleName>
                <lastName>Goodnow</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Goodnow Investment Group, LLC</street1>
                <street2>9 Old King's Highway South, Suite 300</street2>
                <city>Darien</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06820</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Edward B. Goodnow is an executive officer of Goodnow Investment Group, LLC, the General Partner of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Randall</firstName>
                <middleName>M.</middleName>
                <lastName>Heck</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Goodnow Investment Group, LLC</street1>
                <street2>9 Old King's Highway South, Suite 300</street2>
                <city>Darien</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06820</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Randall M. Heck is an executive officer of Goodnow Investment Group, LLC, the General Partner of the Issuer.</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Bradley</firstName>
                <middleName>J.</middleName>
                <lastName>Purcell</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Goodnow Investment Group, LLC</street1>
                <street2>9 Old King's Highway South, Suite 300</street2>
                <city>Darien</city>
                <stateOrCountry>CT</stateOrCountry>
                <zipCode>06820</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Bradley J. Purcell is an executive officer of Goodnow Investment Group, LLC, the General Partner of the Issuer.</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>true</isAmendment>
                <previousAccessionNumber>9999999997-04-030308</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>1999-06-15</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>63121403</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>1</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>100</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The General Partner (or its affiliate) is entitled to receive an annual management fee in an amount equal to a specified percentage of assets under management.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>true</authorizedRepresentative>
            <signature>
                <issuerName>Vertical Partners L.P.</issuerName>
                <signatureName>/s/ Peter J. Gavey</signatureName>
                <nameOfSigner>Peter J. Gavey</nameOfSigner>
                <signatureTitle>Member of the General Partner</signatureTitle>
                <signatureDate>2009-11-17</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----