-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 EpcA1AuIK8pfH+oqhoX1vKgUgrp9oZqZUjoZRflUouS8jeXZFDtyDa5CAsngjHEP
 SFu2IrjhwgFYcw8eMLhVTg==

<SEC-DOCUMENT>0001140361-10-013623.txt : 20100325
<SEC-HEADER>0001140361-10-013623.hdr.sgml : 20100325
<ACCEPTANCE-DATETIME>20100325154930
ACCESSION NUMBER:		0001140361-10-013623
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20100325
DATE AS OF CHANGE:		20100325
EFFECTIVENESS DATE:		20100325

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JMB CAPITAL PARTNERS, L.P.
		CENTRAL INDEX KEY:			0001165776
		IRS NUMBER:				260015969
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-38874
		FILM NUMBER:		10704605

	BUSINESS ADDRESS:	
		STREET 1:		1999 AVE OF THE STARS, SUITE 2040
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		3102862929

	MAIL ADDRESS:	
		STREET 1:		1999 AVE OF THE STARS, SUITE 2040
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JMB CAPITAL PARTNERS LP
		DATE OF NAME CHANGE:	20020123
</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>0001165776</cik>
        <entityName>JMB CAPITAL PARTNERS, L.P.</entityName>
        <issuerAddress>
            <street1>1999 AVE OF THE STARS, SUITE 2040</street1>
            <city>LOS ANGELES</city>
            <stateOrCountry>CA</stateOrCountry>
            <zipCode>90067</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>3102862929</issuerPhoneNumber>
        <jurisdictionOfInc>CALIFORNIA</jurisdictionOfInc>
        <issuerPreviousNameList></issuerPreviousNameList>
        <edgarPreviousNameList>
            <previousName>JMB CAPITAL PARTNERS LP</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <lastName>Smithwood Partners, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1999 Avenue of the Stars, Suite 2040</street1>
                <city>Los Angeles</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90067</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Partner</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jonathan</firstName>
                <middleName>M.</middleName>
                <lastName>Brooks</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1999 Avenue of the Stars, Suite 2040</street1>
                <city>Los Angeles</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90067</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of Smithwood Partners, LLC</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Cyrus</firstName>
                <lastName>Hadidi</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1999 Avenue of the Stars, Suite 2040</street1>
                <city>Los Angeles</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>90067</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Officer of Smithwood Partners, LLC</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.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001140361-10-007927</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2002-04-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Limited partner interests</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>5000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>1031754039</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>145</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>None, although the general partner of the issuer receives investment management fees and a special profit allocation.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>JMB CAPITAL PARTNERS, L.P.</issuerName>
                <signatureName>Cyrus Hadidi</signatureName>
                <nameOfSigner>Cyrus Hadidi</nameOfSigner>
                <signatureTitle>Chief Operating Officer of Smithwood Partners, LLC, GP</signatureTitle>
                <signatureDate>2010-03-25</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----