-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 OUD8WmTXET3YJ30Y2LalxA==

<SEC-DOCUMENT>0001140361-10-047891.txt : 20101202
<SEC-HEADER>0001140361-10-047891.hdr.sgml : 20101202
<ACCEPTANCE-DATETIME>20101202165208
ACCESSION NUMBER:		0001140361-10-047891
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20101202
DATE AS OF CHANGE:		20101202
EFFECTIVENESS DATE:		20101202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHAMP Buyout III L.P.
		CENTRAL INDEX KEY:			0001472216
		IRS NUMBER:				980614602
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-134598
		FILM NUMBER:		101228408

	BUSINESS ADDRESS:	
		STREET 1:		C/O MS. LISA ALEXANDER, WALKER HOUSE
		STREET 2:		87 MARY STREET
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9004
		BUSINESS PHONE:		13458144519

	MAIL ADDRESS:	
		STREET 1:		C/O MS. LISA ALEXANDER, WALKER HOUSE
		STREET 2:		87 MARY STREET
		CITY:			GEORGE TOWN, GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-9004
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001472216</cik>
        <entityName>CHAMP Buyout III L.P.</entityName>
        <issuerAddress>
            <street1>C/O LISA ALEXANDER, WALKER HOUSE</street1>
            <street2>87 MARY STREET</street2>
            <city>GEORGE TOWN, GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
            <zipCode>KY1-9005</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>13458144519</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2009</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>N/A</firstName>
                <middleName>N/A</middleName>
                <lastName>CHAMP Buyout III GP Limited</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>c/o Walkers  Corporate Services Limited</street1>
                <street2>Walker House, 87 Mary Street</street2>
                <city>George Town, Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-9005</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>CHAMP Buyout III GP Limited is the sole general partner of CHAMP Buyout III L.P.</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Private Equity Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0000950127-09-000207</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-08-31</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>MVision Private Equity Advisers USA LLC</recipientName>
                <recipientCRDNumber>122242</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>Connaught House, 1-3 Mount Street</street1>
                    <city>London</city>
                    <stateOrCountry>X0</stateOrCountry>
                    <stateOrCountryDescription>UNITED KINGDOM</stateOrCountryDescription>
                    <zipCode>W1K3NB</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>922573586</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>The total amount sold is Australian $958,784,600.  The US dollar amount shown is approximate and based on the US dollar - Australian dollar exchange rate as of 11/30/2010.
For Item 11, the manager may accept a lower subscription amount at its discretion.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>51</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>2403349</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The US dollar amount shown is approximate and based on the US dollar - Australian dollar exchange rate as of 11/30/2010.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>15915168</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>The amount represents an estimation of the management fees required to be paid in the first full fiscal year based on current total commitments.  The US dollar amount shown is approximate and based on the exchange rate as of 11/30/2010.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>CHAMP Buyout III L.P.</issuerName>
                <signatureName>/s/ Lisa Alexander</signatureName>
                <nameOfSigner>Lisa Alexander</nameOfSigner>
                <signatureTitle>Director of the General Partner</signatureTitle>
                <signatureDate>2010-12-02</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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