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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 CS0GcHld/8wF+Lj+bJSXBAuaqkM+p4ftY15HhN/pIhgQNDT74YA5m5KRsAqfe8RQ
 DaczTJOTj0qPkWym7OQYvQ==

<SEC-DOCUMENT>0000919574-10-001990.txt : 20100301
<SEC-HEADER>0000919574-10-001990.hdr.sgml : 20100301
<ACCEPTANCE-DATETIME>20100301115328
ACCESSION NUMBER:		0000919574-10-001990
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)(1)
FILED AS OF DATE:		20100301
DATE AS OF CHANGE:		20100301
EFFECTIVENESS DATE:		20100301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENESEE BALANCED FUND LP
		CENTRAL INDEX KEY:			0000879508
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-54463
		FILM NUMBER:		10642748

	BUSINESS ADDRESS:	
		STREET 1:		C/O GENESEE INVESTMENTS LLC
		STREET 2:		10500 N.E. 8TH STREET, SUITE 1920
		CITY:			BELLEVUE
		STATE:			WA
		ZIP:			98004-4332
		BUSINESS PHONE:		(425) 462-4646

	MAIL ADDRESS:	
		STREET 1:		C/O GENESEE INVESTMENTS LLC
		STREET 2:		10500 N.E. 8TH STREET, SUITE 1920
		CITY:			BELLEVUE
		STATE:			WA
		ZIP:			98004-4332
</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>0000879508</cik>
        <entityName>GENESEE BALANCED FUND LP</entityName>
        <issuerAddress>
            <street1>C/O GENESEE INVESTMENTS LLC</street1>
            <street2>10500 N.E. 8TH STREET, SUITE 1920</street2>
            <city>BELLEVUE</city>
            <stateOrCountry>WA</stateOrCountry>
            <zipCode>98004-4332</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(425) 462-4646</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Donald</firstName>
                <middleName>R.</middleName>
                <lastName>Morken</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Genesee Investments LLC</street1>
                <street2>10500 N.E. 8th Street , Suite 1920</street2>
                <city>Bellevue</city>
                <stateOrCountry>WA</stateOrCountry>
                <zipCode>98004-4332</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Donald R. Morken is an executive officer of Genesee Investments LLC, the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Hedge Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000919574-09-006055</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2003-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>10477</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Cole Partners, LLC</recipientName>
                <recipientCRDNumber>113464</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>449 N. Wells</street1>
                    <street2>Suite 2E</street2>
                    <city>Chicago</city>
                    <stateOrCountry>IL</stateOrCountry>
                    <zipCode>60610</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <state>CA</state>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>56122933</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>100</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
            <clarificationOfResponse>The entities listed in Item 12 above are paid directly or indirectly commissions or similar sales compensation equal to a percentage of the fee paid to the General Partner (or its affiliate) from the assets under management and/or the incentive allocation</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The General Partner (or its affiliate) is entitled to receive an annual management fee in an amount equal to a specified percentage of assets under management.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>GENESEE BALANCED FUND LP</issuerName>
                <signatureName>/s/ Donald R. Morken</signatureName>
                <nameOfSigner>Donald R. Morken</nameOfSigner>
                <signatureTitle>Managing Member of the General Partner</signatureTitle>
                <signatureDate>2010-03-01</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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