In Cloud Computing, the tenants opting for the Infrastructure as a Service (IaaS) send the resource requirements to the Cloud Service Provider (CSP) in the form of Virtual Network (VN) consisting of a set of inter-connected Virtual Machines (VM). Embedding the VN onto the existing physical network is known as Virtual Network Embedding (VNE) problem. One of the major research challenges is to allocate the physical resources such that the failure of the physical resources would bring less impact onto the users' service. Additionally, the major challenge is to handle the embedding process of growing number of incoming users' VNs from the algorithm design point-of-view. Considering both of the above-mentioned research issues, a novel Failure aware Semi-Centralized VNE (FSC-VNE) algorithm is proposed for the Fat-Tree data center network with the goal to reduce the impact of the resource failure onto the existing users. The impact of failure of the Physical Machines (PMs), physical links and network devices are taken into account while allocating the resources to the users. The beauty of the proposed algorithm is that the VMs are assigned to different PMs in a semi-centralized manner. In other words, the embedding algorithm is executed by multiple physical servers in order to concurrently embed the VMs of a VN and reduces the embedding time. Extensive simulation results show that the proposed algorithm can outperform over other VNE algorithms.