|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
I, Thomas E. Faust Jr., certify that:
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|1. | I have reviewed this Form 10-Q of Belcrest Capital Fund LLC;                                                                                                                                                                                                                                                                           
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|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;                             
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|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;                                                
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|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:
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|   | a)                                                                                                                                                                                                                                                                                                                                     
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|   | b)                                                                                                                                                                                                                                                                                                                                     
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|   | c)                                                                                                                                                                                                                                                                                                                                     
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|   | d)                                                                                                                                                                                                                                                                                                                                     
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|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):                                         
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|   | a)                                                                                                                                                                                                                                                                                                                                     
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|   | b)                                                                                                                                                                                                                                                                                                                                     
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|Date: May 9, 2008
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| | /s/Thomas E. Faust Jr.
Thomas E. Faust Jr.
Chief Executive Officer
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