THE ADVISORS' INNER CIRCLE FUND III

              ROTHSCHILD LARCH LANE ALTERNATIVES FUND (THE "FUND")

                         SUPPLEMENT DATED JULY 12, 2016
                TO THE FUND'S PROSPECTUS, SUMMARY PROSPECTUS AND
                  STATEMENT OF ADDITIONAL INFORMATION ("SAI"),
                            EACH DATED MARCH 1, 2016

THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS, SUMMARY PROSPECTUS AND SAI, AND SHOULD BE READ IN CONJUNCTION
WITH THE PROSPECTUS, SUMMARY PROSPECTUS AND SAI.

Effective July 11, 2016, Fiera Capital Inc. ("Fiera") purchased the interests of
Rothschild Asset Management Inc. ("Rothschild") in Rothschild Larch Lane
Management Company LLC (the "Adviser") (the "Fiera/Rothschild Transaction"). In
connection with this transaction, employees of Rothschild will no longer be
involved in the management or oversight of the Fund and the name of the Fund
will change to Fiera Capital Diversified Alternatives Fund. Further, the name of
the Adviser was changed to Fiera Capital Management Company LLC on July 11,
2016.

Fiera has also informed the Fund's Board of Trustees (the "Board") that it
intends to enter into a definitive agreement this month to acquire substantially
all of the assets of Larch Lane Advisors LLC (the "Larch Lane Acquisition"). The
Larch Lane Acquisition would be expected to close on or about August 31, 2016.
As a result of the Fiera/Rothschild Transaction, on July 11, 2016, the Board
approved an interim advisory agreement with Fiera Capital Management Company
LLC, which went into effect as of that date (the "First Interim Agreement")
replacing the Fund's current advisory agreement with the Adviser. In addition,
as a result of the impending Larch Lane Acquisition, the Board also approved an
interim advisory agreement with Fiera (the "Fiera Interim Advisory Agreement"
and, together with the First Interim Agreement, the "Interim Agreements," and
each individually, an "Interim Agreement"). The Fiera Interim Advisory Agreement
would go into effect upon the close of the Larch Lane Acquisition, replacing the
First Interim Agreement. The terms of each Interim Agreement are identical, in
all material respects, to the prior advisory agreement (other than with respect
to the short-term nature of the agreement and the provision which provides that
the compensation earned under each Interim Agreement will be held in an
interest-bearing escrow account, each as required by Rule 15a-4 under the
Investment Company Act of 1940).

The Board also approved a new advisory agreement with Fiera (the "Fiera Advisory
Agreement") which would go into effect and replace the Fiera Interim Advisory
Agreement, if and when the Fiera Advisory Agreement is approved by shareholders
of the Fund. It is currently anticipated that a shareholder meeting will be held
in September 2016 to act on the Fiera Advisory Agreement. A proxy statement
describing the Fiera Advisory Agreement and Fiera will be distributed to
investors in advance of such meeting.

THE FOREGOING IS NOT A SOLICITATION OF ANY PROXY. WHEN IT IS AVAILABLE, PLEASE
READ THE PROXY STATEMENT CAREFULLY BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION
REGARDING FIERA AND THE FIERA ADVISORY AGREEMENT. THE PROXY STATEMENT WILL BE
AVAILABLE FOR FREE ON THE SEC'S WEBSITE (WWW.SEC.GOV).



Accordingly, the Prospectus, Summary Prospectus and SAI are hereby amended and
supplemented as follows:

     1.   All references to "Rothschild Larch Lane Alternatives Fund" in the
          Prospectus, Summary Prospectus and SAI are hereby deleted and replaced
          with "Fiera Capital Diversified Alternatives Fund."

     2.   All references to "Rothschild Larch Lane Management Company LLC" in
          the Prospectus, Summary Prospectus and SAI are hereby deleted and
          replaced with "Fiera Capital Management Company LLC."

     3.   The first paragraph of the "Investment Adviser and Portfolio
          Managers" section on page 14 of the Prospectus and "The Adviser and
          Sub-Advisers" section on page S-32 of the SAI is hereby deleted and
          replaced with the following:

               Fiera Capital Management Company LLC (the "Adviser"), located at
               800 Westchester Ave., S-528, Rye Brook, New York 10573 serves as
               investment adviser to the Fund. The Adviser is owned by Fiera
               Capital Inc. and Larch Lane Advisors LLC ("Larch Lane").

     4.   All references to Rothschild in the Prospectus and SAI, and all
          references to Mr. Ki Akrami, Mr. Nicolas de Croisset, and Mr. Shakil
          Riaz in the Prospectus, Summary Prospectus and SAI are hereby deleted.


              PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.



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