-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 BUB26EPdfXz+OOYNesEhm3vD5bfljLL623WE0E6SgpDQPnp+Hdr2k5eZspM5zu1q
 zO8ryXo6vF1l6InsLhPmAA==

<SEC-DOCUMENT>0001144204-10-011738.txt : 20100305
<SEC-HEADER>0001144204-10-011738.hdr.sgml : 20100305
<ACCEPTANCE-DATETIME>20100305140500
ACCESSION NUMBER:		0001144204-10-011738
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100304
FILED AS OF DATE:		20100305
DATE AS OF CHANGE:		20100305

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HIRST GARY T
		CENTRAL INDEX KEY:			0001421849

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33916
		FILM NUMBER:		10660075

	MAIL ADDRESS:	
		STREET 1:		1515 INTERNATIONAL PARKWAY
		STREET 2:		SUITE 2031
		CITY:			LAKE MARY
		STATE:			FL
		ZIP:			32746

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Gerova Financial Group Ltd
		CENTRAL INDEX KEY:			0001407437
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 309 GT
		STREET 2:		UGLAND HOUSE SOUTH CHURCH STREET
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			00000
		BUSINESS PHONE:		407 805 0879

	MAIL ADDRESS:	
		STREET 1:		PO BOX 309 GT
		STREET 2:		UGLAND HOUSE SOUTH CHURCH STREET
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ASIA SPECIAL SITUATION ACQUISITION CORP
		DATE OF NAME CHANGE:	20070720
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v176499_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-03-04</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001407437</issuerCik>
        <issuerName>Gerova Financial Group Ltd</issuerName>
        <issuerTradingSymbol>GFC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001421849</rptOwnerCik>
            <rptOwnerName>HIRST GARY T</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1515 INTERNATIONAL PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 2031</rptOwnerStreet2>
            <rptOwnerCity>LAKE MARY</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>32746</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Ordinary Shares, par value $.0001 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2010-03-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>400</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>5.57</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>125400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares, par value $.0001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>500000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Allius Ltd.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary Shares, par value $.0001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>58600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By ICA</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrants (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.5</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2010-03-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F4"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>290000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2010-01-20</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-01-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>290000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>290000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>ICA</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents an open market purchase of ordinary shares of the Issuer by the Reporting Person.</footnote>
        <footnote id="F2">Includes ordinary shares of the Issuer indirectly owned by the Reporting Person through his 50% beneficial interest in Allius
 Ltd.</footnote>
        <footnote id="F3">Includes ordinary shares of the Issuer owned by ICA, of which the Reporting Person is a Director.  The Reporting Person
 disclaims beneficial ownership of the ordinary shares owned by ICA.</footnote>
        <footnote id="F4">Includes warrants of the Issuer of which ICA has voting, investment and dispositive power with respect thereto. The Reporting
 Person disclaims beneficial ownership of the warrants controlled by ICA.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Dr. Gary T. Hirst</signatureName>
        <signatureDate>2010-03-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----