<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001982939</cik>
        <entityName>North Haven Private Equity Co-Investment Opportunities Fund III (Cayman) LP</entityName>
        <issuerAddress>
            <street1>ONE TOWER BRIDGE</street1>
            <street2>100 FRONT STREET, SUITE 400</street2>
            <city>WEST CONSHOHOCKEN</city>
            <stateOrCountry>PA</stateOrCountry>
            <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
            <zipCode>19428</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>610-260-7223</issuerPhoneNumber>
        <jurisdictionOfInc>CAYMAN ISLANDS</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Partnership</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2023</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jason</firstName>
                <lastName>Sneah</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO Box 1093</street1>
                <street2>Boundary Hall Cricket Square</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-1102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kevin</firstName>
                <lastName>Solomon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>PO Box 1093</street1>
                <street2>Boundary Hall Cricket Square</street2>
                <city>Grand Cayman</city>
                <stateOrCountry>E9</stateOrCountry>
                <stateOrCountryDescription>CAYMAN ISLANDS</stateOrCountryDescription>
                <zipCode>KY1-1102</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Director of the General Partner of the Issuer</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Neha</firstName>
                <middleName>Champaneria</middleName>
                <lastName>Markle</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Tower Bridge</street1>
                <street2>100 Front Street, Suite 400</street2>
                <city>West Conshohocken</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19428</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Director of the Issuer's Adviser</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Vikram</firstName>
                <lastName>Raju</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Tower Bridge</street1>
                <street2>100 Front Street, Suite 400</street2>
                <city>West Conshohocken</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19428</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Director of the Issuer's Adviser</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Michael</firstName>
                <lastName>Carroll</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Tower Bridge</street1>
                <street2>100 Front Street, Suite 400</street2>
                <city>West Conshohocken</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19428</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing Director of the Issuer's Adviser</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Onyekwere</firstName>
                <middleName>Randy</middleName>
                <lastName>Ojukwu</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>One Tower Bridge</street1>
                <street2>100 Front Street, Suite 400</street2>
                <city>West Conshohocken</city>
                <stateOrCountry>PA</stateOrCountry>
                <stateOrCountryDescription>PENNSYLVANIA</stateOrCountryDescription>
                <zipCode>19428</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Executive Director of the Issuer's Adviser</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Pooled Investment Fund</industryGroupType>
            <investmentFundInfo>
                <investmentFundType>Other Investment Fund</investmentFundType>
                <is40Act>false</is40Act>
            </investmentFundInfo>
        </industryGroup>
        <issuerSize>
            <aggregateNetAssetValueRange>Decline to Disclose</aggregateNetAssetValueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06b</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001982939-23-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2023-07-14</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>0</minimumInvestmentAccepted>
        <salesCompensationList>
            <recipient>
                <recipientName>Morgan Stanley Smith Barney LLC</recipientName>
                <recipientCRDNumber>149777</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>2000 WESTCHESTER AVENUE</street1>
                    <city>Purchase</city>
                    <stateOrCountry>NY</stateOrCountry>
                    <stateOrCountryDescription>NEW YORK</stateOrCountryDescription>
                    <zipCode>10577-2530</zipCode>
                </recipientAddress>
                <statesOfSolicitationList>
                    <value>All States</value>
                </statesOfSolicitationList>
                <foreignSolicitation>false</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Morgan Stanley Bank Asia Limited</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>INTERNATIONAL COMMERCE CENTER</street1>
                    <street2>1 AUSTIN ROAD WEST</street2>
                    <city>KOWLOON</city>
                    <stateOrCountry>K3</stateOrCountry>
                    <stateOrCountryDescription>HONG KONG</stateOrCountryDescription>
                    <zipCode>999077</zipCode>
                </recipientAddress>
                <statesOfSolicitationList></statesOfSolicitationList>
                <foreignSolicitation>true</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Morgan Stanley Bank Asia Limited, Singapore Branch</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>23 CHURCH STREET</street1>
                    <street2>#16-0 I CAPITAL SQUARE</street2>
                    <city>SINGAPORE</city>
                    <stateOrCountry>U0</stateOrCountry>
                    <stateOrCountryDescription>SINGAPORE</stateOrCountryDescription>
                    <zipCode>049481</zipCode>
                </recipientAddress>
                <statesOfSolicitationList></statesOfSolicitationList>
                <foreignSolicitation>true</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Morgan Stanley Wealth Management Australia Pty Ltd</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>LEVEL 26 CHIFLEY TOWER, 2 CHIFLEY SQUARE</street1>
                    <city>Sydney</city>
                    <stateOrCountry>C3</stateOrCountry>
                    <stateOrCountryDescription>AUSTRALIA</stateOrCountryDescription>
                    <zipCode>2000</zipCode>
                </recipientAddress>
                <statesOfSolicitationList></statesOfSolicitationList>
                <foreignSolicitation>true</foreignSolicitation>
            </recipient>
            <recipient>
                <recipientName>Plurimi Wealth LLP</recipientName>
                <recipientCRDNumber>None</recipientCRDNumber>
                <associatedBDName>None</associatedBDName>
                <associatedBDCRDNumber>None</associatedBDCRDNumber>
                <recipientAddress>
                    <street1>11 WATERLOO PL</street1>
                    <city>London</city>
                    <stateOrCountry>X0</stateOrCountry>
                    <stateOrCountryDescription>UNITED KINGDOM</stateOrCountryDescription>
                    <zipCode>SW1Y 4AU</zipCode>
                </recipientAddress>
                <statesOfSolicitationList></statesOfSolicitationList>
                <foreignSolicitation>true</foreignSolicitation>
            </recipient>
        </salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>514518000</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>591</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>15000000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>The amount of the sales commission is estimated for the Issuer and its related vehicles and represents an estimate of the total fees to be paid to the entities listed in Item 12 above.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>North Haven Private Equity Co-Investment Opportunities Fund III (Cayman) LP</issuerName>
                <signatureName>/s/ Jason Sneah</signatureName>
                <nameOfSigner>Jason Sneah</nameOfSigner>
                <signatureTitle>Director of General Partner of the Issuer</signatureTitle>
                <signatureDate>2024-07-10</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
