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        <entityName>FEPCF Founders Fund, L.P.</entityName>
        <issuerAddress>
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            <street2>SUITE 1200</street2>
            <city>BOSTON</city>
            <stateOrCountry>MA</stateOrCountry>
            <stateOrCountryDescription>MASSACHUSETTS</stateOrCountryDescription>
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        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
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                <zipCode>02116</zipCode>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>n/a</firstName>
                <lastName>First Eagle Alternative Credit, LLC</lastName>
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                <zipCode>02116</zipCode>
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            <relatedPersonRelationshipList>
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                <zipCode>02116</zipCode>
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                <city>Boston</city>
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                <lastName>Fellows</lastName>
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                <street1>1345 Avenue of the Americas, 48th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                <zipCode>10105</zipCode>
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                <firstName>Mehdi</firstName>
                <lastName>Mahmud</lastName>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Melanie</firstName>
                <lastName>Dow</lastName>
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        <relatedPersonInfo>
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                <lastName>Margulies</lastName>
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        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Telmo</firstName>
                <lastName>Martins</lastName>
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                <city>Chicago</city>
                <stateOrCountry>IL</stateOrCountry>
                <stateOrCountryDescription>ILLINOIS</stateOrCountryDescription>
                <zipCode>60606</zipCode>
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            <relatedPersonRelationshipList>
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    <offeringData>
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            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
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        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
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        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001979612-23-000002</previousAccessionNumber>
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            <dateOfFirstSale>
                <value>2023-06-28</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
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        <typesOfSecuritiesOffered>
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        <businessCombinationTransaction>
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            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>FEF Distributors, LLC</recipientName>
                <recipientCRDNumber>46585</recipientCRDNumber>
                <associatedBDName>FEF Distributors, LLC</associatedBDName>
                <associatedBDCRDNumber>46585</associatedBDCRDNumber>
                <recipientAddress>
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                    <city>New York</city>
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                    <zipCode>10105</zipCode>
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                <statesOfSolicitationList>
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                <foreignSolicitation>false</foreignSolicitation>
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        </salesCompensationList>
        <offeringSalesAmounts>
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            <totalAmountSold>202600000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
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        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>4</totalNumberAlreadyInvested>
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        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>FEPCF Founders Fund, L.P.</issuerName>
                <signatureName>/s/ Sabrina Rusnak-Carlson</signatureName>
                <nameOfSigner>Sabrina Rusnak-Carlson</nameOfSigner>
                <signatureTitle>General Counsel of Sole Member/Manager of General Partner</signatureTitle>
                <signatureDate>2024-03-21</signatureDate>
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