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<SEC-DOCUMENT>0000950103-11-000632.txt : 20110215
<SEC-HEADER>0000950103-11-000632.hdr.sgml : 20110215
<ACCEPTANCE-DATETIME>20110215123213
ACCESSION NUMBER:		0000950103-11-000632
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20110215
DATE AS OF CHANGE:		20110215
EFFECTIVENESS DATE:		20110215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IP III CO-INVESTORS, L.P.
		CENTRAL INDEX KEY:			0001421238
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-112131
		FILM NUMBER:		11613232

	BUSINESS ADDRESS:	
		STREET 1:		C/O DLJ LBO PLANS MANAGEMENT CORP
		STREET 2:		ELEVEN MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010
		BUSINESS PHONE:		(908) 598-6801

	MAIL ADDRESS:	
		STREET 1:		C/O DLJ LBO PLANS MANAGEMENT CORP
		STREET 2:		ELEVEN MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IP III CO-INVESTORS LP
		DATE OF NAME CHANGE:	20071213
</SEC-HEADER>
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        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000950103-10-000589</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2007-12-11</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>2300</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>52000000</totalOfferingAmount>
            <totalAmountSold>22894220</totalAmountSold>
            <totalRemaining>29105780</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>true</hasNonAccreditedInvestors>
            <numberNonAccreditedInvestors>2</numberNonAccreditedInvestors>
            <totalNumberAlreadyInvested>43</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>IP III CO-INVESTORS, L.P.</issuerName>
                <signatureName>/s/ Kenneth J. Lohsen</signatureName>
                <nameOfSigner>Kenneth J. Lohsen</nameOfSigner>
                <signatureTitle>President of DLJ LBO Plans Management, LLC</signatureTitle>
                <signatureDate>2011-02-15</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----