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PINE GROVE ALTERNATIVE INSTITUTIONAL FUND

Supplement dated November 3, 2016 to the
Statement of Additional Information ("SAI") dated August 1, 2016, as Supplemented September 29, 2016

Effective October 27, 2016, the Board of Trustees approved the election of Lee M. Binks as the Chief Compliance Officer of the Pine Grove Alternative Institutional Fund (the "Trust") in place of Nadine Le Gall, who resigned as the Chief Compliance Officer; and the election of Gino Malaspina as Vice President and Secretary of the Trust in place of Adam R. Waldstein, who resigned as Vice President and Secretary.

Accordingly, the table on Page 19 of the SAI entitled "Executive Officers" is hereby deleted in its entirety and replaced with the following:

Name, Age and Address of
Executive Officer (1)
 
Position(s)
Held with
Registrant
 
Length of Time
Served (2)
 
Principal Occupation(s) During Past 5 Years
 
 
Linzie Steinbach
Born: 1980
 
Treasurer and Chief Financial Officer
 
Since 2015
 
Fund Controller at FRM USA since April 2015; Senior Vice President and Fund Controller at Bank of America from 2007 through March 2015.
 
                 
 
Gino Malaspina
Born: 1968
 
Vice President and Secretary
 
Since 2016
 
Senior Counsel, Atlantic since 2014; Senior Counsel and Managing Director, Cipperman & Company/Cipperman Compliance Services LLC, 2010-2014; and Associate, Stradley Ronon Stevens & Young, LLP, 2009-2010.
 
                 
 
Lee M. Binks
Born: 1973
 
Chief Compliance Officer
 
Since 2016
 
Head of FRM Compliance, Deputy CCO Man Investments USA since 2014; Director of Compliance, Barclays Capital, 2008-2014.
 
_________________________
(1) The address of each Officer is c/o Atlantic Fund Services, Three Canal Plaza, Portland, ME 04101.

(2) Each Officer serves an indefinite term, until his or her successor is elected.




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For more information, please contact a Fund customer service representative toll free at 855-699-3103.

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