-----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,
 Med7G2+r0K2yc3duhh8xM6oF6o1dGuObIWtNsVxhop391CwHTkZ0ou499L6zLDls
 AiWye5yGqcWwY7cFAKAWaQ==

<SEC-DOCUMENT>0000009015-08-000026.txt : 20080804
<SEC-HEADER>0000009015-08-000026.hdr.sgml : 20080804
<ACCEPTANCE-DATETIME>20080804164001
ACCESSION NUMBER:		0000009015-08-000026
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080731
FILED AS OF DATE:		20080804
DATE AS OF CHANGE:		20080804

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Tennenbaum Opportunities Fund V, LLC
		CENTRAL INDEX KEY:			0001377269
		IRS NUMBER:				870783205
		STATE OF INCORPORATION:			DE

	BUSINESS ADDRESS:	
		STREET 1:		2951 28TH STREET
		STREET 2:		SUITE 1000
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90405
		BUSINESS PHONE:		310-566-1000

	MAIL ADDRESS:	
		STREET 1:		2951 28TH STREET
		STREET 2:		SUITE 1000
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90405

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MASSACHUSETTS MUTUAL LIFE INSURANCE CO
		CENTRAL INDEX KEY:			0000225602
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21960
		FILM NUMBER:		08988526

	BUSINESS ADDRESS:	
		STREET 1:		1295 STATE ST B050
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01111
		BUSINESS PHONE:		4137448411
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>mas23.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-07-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001377269</issuerCik>
        <issuerName>Tennenbaum Opportunities Fund V, LLC</issuerName>
        <issuerTradingSymbol>NA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000225602</rptOwnerCik>
            <rptOwnerName>MASSACHUSETTS MUTUAL LIFE INSURANCE CO</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1295 STATE ST</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SPRINGFIELD</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <otherText>Affiliate of Co-Manager</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common shares</value>
            </securityTitle>
            <transactionDate>
                <value>2008-07-31</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>710.19</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>14080.81</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4794.12</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes></footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>By: Rodney J. Dillman</signatureName>
        <signatureDate>2008-08-04</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----