<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001487810</cik>
        <entityName>GLL Private Equity Fund, LLC</entityName>
        <issuerAddress>
            <street1>3200 NORTH LAKE SHORE DRIVE</street1>
            <city>CHICAGO</city>
            <stateOrCountry>IL</stateOrCountry>
            <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
            <zipCode>60657</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>773-525-3038</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2010</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>GLL</firstName>
                <lastName>GLL Investors, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3200 North Lake Shore Drive</street1>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60657</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member (Fund Manager) of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>W.</firstName>
                <middleName>Stephen</middleName>
                <lastName>Gilboy</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3200 North Lake Shore Drive</street1>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60657</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member &amp; Officer of GLL Investors,LLC, the Managing Member of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <middleName>S.</middleName>
                <lastName>Newlander</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3200 North Lake Shore Drive</street1>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60657</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member &amp; Officer of GLL Investors, LLC, the Managing Member of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jason</firstName>
                <middleName>R.</middleName>
                <lastName>Gilboy</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>3200 North Lake Shore Drive</street1>
                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60657</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Member &amp; Officer of GLL Investors, LLC, the Managing Member of the Issuer</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>No Revenues</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001487810-10-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-03-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>315000</totalOfferingAmount>
            <totalAmountSold>315000</totalAmountSold>
            <totalRemaining>0</totalRemaining>
            <clarificationOfResponse>The issuer sold $31,400,000 in its private equity fund. The purpose for which issuer was formed, became unviable, therefore the issuer terminated the offering, refunded the investors' net money after 1% expenses, and dissolved the Issuer-LLC</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>0</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>315000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The Issuer incurred investment and offering expenses of approximately $315,000, which were paid out of the gross proceeds of the offering. The issuer refunded investors' net money other than the $315,000 expenses.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>GLL Private Equity Fund, LLC</issuerName>
                <signatureName>Jason R. Gilboy</signatureName>
                <nameOfSigner>Jason R. Gilboy</nameOfSigner>
                <signatureTitle>Managing Member of Managing Member of Issuer</signatureTitle>
                <signatureDate>2010-12-21</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
