Advisors Inner Circle Fund III

08/04/2026 | Press release | Distributed by Public on 08/04/2026 11:34

Summary Prospectus by Investment Company (Form 497K)

The Advisors' Inner Circle Fund III

FS Multi-Strategy Alternatives Fund

(the "Fund")

Supplement Dated August 4, 2026 to:

· the Fund's Summary Prospectus, dated May 1, 2026 (the "Summary Prospectus");
· the Fund's Prospectus, dated May 1, 2026 (the "Prospectus"); and
· the Fund's Statement of Additional Information, dated May 1, 2026 (the "SAI").

This supplement provides new and additional information beyond that contained in the Summary Prospectus, Prospectus and SAI, and should be read in conjunction with the Summary Prospectus, Prospectus and SAI.

Magnetar Asset Management LLC ("Magnetar") no longer serves as a sub-adviser to the Fund. Accordingly, effective immediately, all references to Magnetar in the Summary Prospectus, Prospectus and SAI are hereby deleted.

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.

CHI-SK-057-0100

Advisors Inner Circle Fund III published this content on August 04, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on August 04, 2026 at 17:34 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]