# EDGAR Filing Document

**Accession Number:** 0000893818
**File Stem:** 0001193125-23-027175
**Filing Date:** 2023-2
**Character Count:** 6548
**Document Hash:** 76395ed5170640e7beebd2c52662fe38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-027175.hdr.sgml**: 20230208

**ACCESSION NUMBER**: 0001193125-23-027175

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230208

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230208

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Funds III
- **CENTRAL INDEX KEY:** 0000893818
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-54126
- **FILM NUMBER:** 23596339

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 8006439691

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BARCLAYS GLOBAL INVESTORS FUNDS
- **DATE OF NAME CHANGE:** 20060201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BARCLAYS GLOBAL INVESTORS FUNDS INC
- **DATE OF NAME CHANGE:** 19990804

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASTERWORKS FUNDS INC
- **DATE OF NAME CHANGE:** 19960607

## Series and Classes Contracts Data

### BlackRock LifePath Index 2060 Fund (Series ID: S000052849)

| Class ID   | Class Name        | Ticker Symbol   |
|:---|:---|:---|
| C000166217 | Investor A        |  |
| C000166218 | Institutional     |  |
| C000166219 | Class K           |  |
| C000201977 | Investor P Shares |  |

**BLACKROCK FUNDS III** 

BlackRock LifePath<sup>®</sup> Index Retirement Fund

BlackRock LifePath<sup>®</sup> Index 2025 Fund

BlackRock LifePath<sup>®</sup> Index 2030 Fund

BlackRock LifePath<sup>®</sup> Index 2035 Fund

BlackRock LifePath<sup>®</sup> Index 2040 Fund

BlackRock LifePath<sup>®</sup> Index 2045 Fund

BlackRock LifePath<sup>®</sup> Index 2050 Fund

BlackRock LifePath<sup>®</sup> Index 2055 Fund

BlackRock LifePath<sup>®</sup> Index 2060 Fund

BlackRock LifePath<sup>®</sup> Index 2065 Fund

(each, a "Fund" and together, the "Funds")

**Supplement dated February 8, 2023 to the Summary Prospectuses and the** 

**Prospectuses of the Funds, each dated April 29, 2022, as supplemented to date** 

**Effective on February 8, 2023, the following changes are made to the Funds' Summary Prospectuses and Prospectuses, as applicable:** 

**The section of the Summary Prospectuses entitled "Key Facts About [Fund] — Portfolio Managers" and the section of the Prospectuses entitled "Fund Overview — Key Facts About [Fund] — Portfolio Managers" are deleted in their entirety and replaced with the following:** 

---

| | | |
|:---|:---|:---|
| **Name** | **Portfolio Manager of<br>the Fund Since** | **Title** |
| Chris Chung, CFA | 2020 | Managing Director of BlackRock, Inc. |
| Lisa O'Connor, CFA | 2020 | Managing Director of BlackRock, Inc. |
| Greg Savage, CFA | 2018 | Managing Director of BlackRock, Inc. |
| Paul Whitehead | 2023 | Managing Director of BlackRock, Inc. |

---

**The section of the Prospectuses entitled "Details About the Funds — A Further Discussion of Principal Investment Strategies — About the Portfolio Management Team of the Funds" is deleted in its entirety and replaced with the following:**

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;**ABOUT THE PORTFOLIO MANAGEMENT TEAM OF THE FUNDS** |
| &nbsp;&nbsp;&nbsp;The Funds are managed by a team of financial professionals. Chris Chung, CFA, Lisa O'Connor, CFA, Greg Savage, CFA, and Paul Whitehead are the portfolio managers and are jointly and primarily responsible for the day-to-day management of each Fund. Please see "Management of the Funds — Portfolio Managers" for additional information about the portfolio management team. |

---

**The section of the Prospectuses entitled "Management of the Funds — Portfolio Managers" is deleted in its entirety and replaced with the following:** 

Information regarding the portfolio managers of the Funds is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares and possible conflicts of interest, is available in the SAI.

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Manager** | **Primary Role** | **Since** | **Title and Recent Biography** |
| Chris Chung, CFA | Jointly and primarily responsible for the day-to-day management of each Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2020 | Managing Director of BlackRock, Inc. since 2021; Director of BlackRock, Inc. from 2015 to 2021; Vice President of BlackRock, Inc. from 2011 to 2014; Associate of BlackRock, Inc. from 2009 to 2010; Associate of Barclays Global Investors ("BGI") from 2008 to 2009; Senior Manager of American Express from 2004 to 2008; research professional at the Center for Interuniversity Research and Analysis of Organizations (CIRANO) from 2002 to 2006. |
| Lisa O'Connor, CFA | Jointly and primarily responsible for the day-to-day management of each Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2020 | Managing Director of BlackRock, Inc. since 2017; Managing Director of State Street Global Advisors from 2013 to 2017; Managing Director of Mellon Capital Management from 2001 to 2013; Director of BuySide Direct in 2000; Derivatives portfolio manager and trader at Mellon Capital Management from 1998 to 2000; Vice President of Coutts & Co. from 1996 to 1998; equity derivatives analyst from 1993 to 1996. |
| Greg Savage, CFA | Jointly and primarily responsible for the day-to-day management of each Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2018<sup>1</sup> | Managing Director of BlackRock, Inc. since 2010; Director of BlackRock, Inc. in 2009; Principal of BGI from 2007 to 2009; Associate of BGI from 1999 to 2007. |
| Paul Whitehead | Jointly and primarily responsible for the day-to-day management of each Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2023 | Managing Director of BlackRock, Inc. since 2010; Director of BlackRock, Inc. from 2009 to 2010; Principal of BGI from 2002 to 2009. |

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<sup>1</sup> Mr. Savage has been managing the LifePath Index 2065 Fund since its inception in 2019.

**Shareholders should retain this Supplement for future reference.**