AFN Alesco Financial

CUSIP No. 014485106
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1. Names of Reporting Persons/ I.R.S. Identification Nos. of Above Persons
 (entities only):
 LEON G. COOPERMAN

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2. Check the Appropriate Box if a Member of a Group (See Instructions)

 (a) [_]
 (b) [X]
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3. SEC Use Only

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4. Citizenship or Place of Organization:

 UNITED STATES

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Number of 5. Sole Voting Power: 1,323,100
Shares Bene-
ficially 6. Shared Voting Power: -0-
Owned by
Each Report- 7. Sole Dispositive Power: 1,323,100
ing Person
With 8. Shared Dispositive Power: -0-

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9. Aggregate Amount Beneficially Owned by Each Reporting Person

 1,323,100
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10. Check Box if the Aggregate Amount in Row (9) Excludes
 Certain Shares [_]

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11. Percent of Class Represented by Amount in Row (9)

 2.2%
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12. Type of Reporting Person: IN


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CUSIP No. 014485106
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Item 1(a) Name of Issuer:

 ALESCO FINANCIAL INC. (the "Issuer").

This statement is filed with respect to the Shares of ALESCO FINANCIAL INC. (the
"Issuer") beneficially owned by LEON G. COOPERMAN as of December 31, 2008 and
amends and supplements the Schedule 13G/A filed on February 6,, 2008( the
"Schedule 13G'). Except as set forth herein the Schedule 13G is unmodified.


Item 4. Ownership:

Item 4(a)(b) Amount Beneficially Owned and Percent of Class:

 Mr. Cooperman is the beneficial owner of 1,323,100 Shares which constitutes
approximately 2.2% of the total number of Shares outstanding


Item 4(c).Number of Shares as to which such person has:

 (i) Sole power to vote or to direct the vote: 1,323,100

 (ii) Shared power to vote or to direct the vote: -0-

 (iii)Sole power to dispose or to direct the disposition of: 1,323,100

 (iv) Shared power to dispose or to direct the disposition of: -0-


Item 5. Ownership of Five Percent or Less of a Class:

 If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than 5
percent of the class of securities, check the following (X).


Item 6. Ownership of More than Five Percent on Behalf of Another Person:

 This Item 6 is not applicable.


Item 7. Identification and Classification of the Subsidiary Which Acquired the
 Security Being Reported on by the Parent Holding Company:

 This Item 7 is not applicable.


Item 8. Identification and Classification of Members of the Group:

 This Item 8 is not applicable.


Item 9. Notice of Dissolution of Group:

 This Item 9 is not applicable.




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CUSIP No. 014485106
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Item 10. Certification:

 By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
Issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having such purpose or effect.




 SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.



DATED: February 4, 2009 as of December 31, 2008


LEON G. COOPERMAN, individually,
as Managing Member of Omega
Associates, L.L.C. on behalf of
Omega Capital Partners, L.P.,
Omega Capital Investors, L.P.,
Omega Equity Investors, L.P., and
as President of Omega Advisors, Inc.



By /s/ ALAN M. STARK
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 Alan M. Stark
 Attorney-in-Fact
Power of Attorney on file


ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).



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