-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 PBR8HIGh7eo89GQluxJZG7N7sz/85OPahvWnmAMHh7Q78Ku881stCxrvD1pe5t8F
 nKBareZIoKIru/EXyqTHZg==

<SEC-DOCUMENT>0000950127-09-000207.txt : 20090921
<SEC-HEADER>0000950127-09-000207.hdr.sgml : 20090921
<ACCEPTANCE-DATETIME>20090921164509
ACCESSION NUMBER:		0000950127-09-000207
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
FILED AS OF DATE:		20090921
DATE AS OF CHANGE:		20090921
EFFECTIVENESS DATE:		20090921

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
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-134598
		FILM NUMBER:		091079194

	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
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0502</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001472216</cik>
        <entityName>CHAMP Buyout III L.P.</entityName>
        <issuerAddress>
            <street1>C/O MS. LISA ALEXANDER, WALKER HOUSE</street1>
            <street2>87 MARY STREET</street2>
            <city>GEORGE TOWN, GRAND CAYMAN</city>
            <stateOrCountry>E9</stateOrCountry>
            <zipCode>KY1-9005</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>13458144519</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <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>
                <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>No Revenues</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2009-08-31</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>false</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>
                    <zipCode>W1K3NB</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>270263379</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse>The total amount sold is Australian $309,900,000.  The US dollar amount shown is approximate and based on the exchange rate as of 9/17/2009.</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>14</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>675000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>This amount is calculated on the basis of total commitments, which has not been finalized.  The US dollar amount shown is approximate and based on the exchange rate as of 9/17/2009.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>5000000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>This 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 9/17/2009.</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>2009-09-21</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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