EXHIBIT 31.1 CERTIFICATIONS PURSUANT TO 18 U.S.C. SECTION 1350,AS ADOPTED PURSUANT TO SECTION 302OF THE SARBANES-OXLEY ACT OF 2002 CERTIFICATIONI, Thomas E. Faust Jr., certify that: 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 amaterial fact necessary to make the statements made, in light of the circumstances under which such statementswere 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, fairlypresent 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 controlsand procedures (as defined in Exchange Act Rules 13a- 15(e) and 15d- 15(e)) and internal control over financialreporting (as defined in Exchange Act Rules 13a- 15(f) and 15d-1 5(f)) for the registrant and have:a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to bedesigned under our supervision, to ensure that material information relating to the registrant, including itsconsolidated subsidiaries, is made known to us by others within those entities, particularly during the period inwhich this report is being prepared;b) designed such internal control over financial reporting, or caused such internal control over financial reportingto be designed under our supervision, to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordance with generally acceptedaccounting principles;c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report ourconclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period coveredby this report based on such evaluation; andd) disclosed in this report any change in the registrants internal control over financial reporting that occurredduring the registrants most recent fiscal quarter (the registrants fourth fiscal quarter in the case of an annualreport) that has materially affected, or is reasonably likely to materially affect, the registrants internal control overfinancial reporting; and5.
     The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internalcontrol 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 financialreporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize andreport financial information; andb) any fraud, whether or not material, that involves management or other employees who have a significant role inthe registrant's internal control over financial reporting.
  Date: May 10, 2011 /s/ Thomas E. Faust Jr.Thomas E. Faust Jr.Chief Executive Officer 1