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|                                                   | EXHIBIT 31.1                                                                                                              
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|CERTIFICATIONS PURSUANT TO 18 U.S.C. SECTION 1350,
|AS ADOPTED PURSUANT TO SECTION 302                
|OF THE SARBANES-OXLEY ACT OF 2002                 
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|CERTIFICATION                                     
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|I, Thomas E. Faust Jr., certify that:             
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|1.                                                 | I have reviewed this Form 10-Q of Belcrest Capital Fund LLC;                                                              
|2.                                                 | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a            
|                                                   | material fact necessary to make the statements made, in light of the circumstances under which such statements            
|                                                   | were made, not misleading with respect to the period covered by this report;                                              
|3.                                                 | Based on my knowledge, the financial statements, and other financial information included in this report, fairly          
|                                                   | present in all material respects the financial condition, results of operations and cash flows of the registrant as of,   
|                                                   | and for, the periods presented in this report;                                                                            
|4.                                                 | The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls   
|                                                   | and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial             
|                                                   | reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:                         
|                                                   | a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be              
|                                                   | designed under our supervision, to ensure that material information relating to the registrant, including its             
|                                                   | consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in         
|                                                   | which this report is being prepared;                                                                                      
|                                                   | b) designed such internal control over financial reporting, or caused such internal control over financial reporting      
|                                                   | to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial              
|                                                   | reporting and the preparation of financial statements for external purposes in accordance with generally accepted         
|                                                   | accounting principles;                                                                                                    
|                                                   | c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our    
|                                                   | conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered        
|                                                   | by this report based on such evaluation; and                                                                              
|                                                   | d) disclosed in this report any change in the registrants internal control over financial reporting that occurred        
|                                                   | during the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annual       
|                                                   | report) that has materially affected, or is reasonably likely to materially affect, the registrants internal control over
|                                                   | financial reporting; and                                                                                                  
|5.                                                 | The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal        
|                                                   | control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors 
|                                                   | (or persons performing the equivalent functions):                                                                         
|                                                   | a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial     
|                                                   | reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and      
|                                                   | report financial information; and                                                                                         
|                                                   | b) any fraud, whether or not material, that involves management or other employees who have a significant role in         
|                                                   | the registrant's internal control over financial reporting.                                                               
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|Date: August 10, 2009                             



| | /s/ Thomas E. Faust Jr.Thomas E. Faust Jr.Chief Executive Officer
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