-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Cgkn7ugNq1zITBgeZqTdI1sNpJBlgyDaufSSiRVJcyb7QO9vWNEvb+V38L0J8Lu9
 Ov9LtFDjkRiuGDICwS4oOg==

<SEC-DOCUMENT>0000919574-09-016101.txt : 20091112
<SEC-HEADER>0000919574-09-016101.hdr.sgml : 20091111
<ACCEPTANCE-DATETIME>20091112161120
ACCESSION NUMBER:		0000919574-09-016101
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)(7)
FILED AS OF DATE:		20091112
DATE AS OF CHANGE:		20091112
EFFECTIVENESS DATE:		20091112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HARBERT VALUE FUND, LP
		CENTRAL INDEX KEY:			0001396851
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-102280
		FILM NUMBER:		091177199

	BUSINESS ADDRESS:	
		STREET 1:		THIRD AVENUE NORTH
		STREET 2:		SUITE 600
		CITY:			Birmingham
		STATE:			AL
		ZIP:			35203
		BUSINESS PHONE:		205-987-5500

	MAIL ADDRESS:	
		STREET 1:		THIRD AVENUE NORTH
		STREET 2:		SUITE 600
		CITY:			Birmingham
		STATE:			AL
		ZIP:			35203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Harbert Value Fund LP
		DATE OF NAME CHANGE:	20070418
</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>0001396851</cik>
        <entityName>HARBERT VALUE FUND, LP</entityName>
        <issuerAddress>
            <street1>2100 Third Avenue North</street1>
            <street2>Suite 600</street2>
            <city>Birmingham</city>
            <stateOrCountry>AL</stateOrCountry>
            <zipCode>35203</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>205-987-5500</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList></issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>Harbert Value Fund LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>David</firstName>
                <middleName>A.</middleName>
                <lastName>Boutwell</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2100 Third Avenue North</street1>
                <street2>Suite 600</street2>
                <city>Birmingham</city>
                <stateOrCountry>AL</stateOrCountry>
                <zipCode>35203</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Todd</firstName>
                <middleName>D.</middleName>
                <lastName>Nunnelley</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2100 Third Avenue North</street1>
                <street2>Suite 600</street2>
                <city>Birmingham</city>
                <stateOrCountry>AL</stateOrCountry>
                <zipCode>35203</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>D.</middleName>
                <lastName>Luce</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2100 Third Avenue North</street1>
                <street2>Suite 600</street2>
                <city>Birmingham</city>
                <stateOrCountry>AL</stateOrCountry>
                <zipCode>35203</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>John</firstName>
                <middleName>W.</middleName>
                <lastName>McCullough</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2100 Third Avenue North</street1>
                <street2>Suite 600</street2>
                <city>Birmingham</city>
                <stateOrCountry>AL</stateOrCountry>
                <zipCode>35203</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Raymond</firstName>
                <middleName>J.</middleName>
                <lastName>Harbert</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>2100 Third Avenue North</street1>
                <street2>Suite 600</street2>
                <city>Birmingham</city>
                <stateOrCountry>AL</stateOrCountry>
                <zipCode>35203</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Not Applicable</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000919574-09-013745</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-04-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>250000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>HMC Investments, Inc.</recipientName>
                <recipientCRDNumber>40581</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2100 Third Avenue North</street1>
                    <street2>Suite 600</street2>
                    <city>Birmingham</city>
                    <stateOrCountry>AL</stateOrCountry>
                    <zipCode>35203</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>95446887</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>49</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>The entity listed in Item 12 above is paid a quarterly fee the amount of which is determined on an annual basis and is dependent upon a number of factors.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The general partner 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>Harbert Value Fund, LP</issuerName>
                <signatureName>/s/ John W. McCullough</signatureName>
                <nameOfSigner>John W. McCullough</nameOfSigner>
                <signatureTitle>Sr. Vice Pres., Harbert Management Corp., Mgm. Mem. of GP</signatureTitle>
                <signatureDate>2009-11-12</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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