Noble raises $360 million for extended stay and select service fund

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Noble Investment Group
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US: Noble Investment Group has raised $360 million for its latest US hotel investment fund, according to sources.

The Atlanta-based investment manager is seeking to raise $800 million and a $1 billion hard cap for Noble Hospitality Fund V, a fund which acquires existing hotel assets with some value-add potential. Noble raised $450 million in 2018 for its fourth fund and an additional $200 million in co-investment capital.

The Missouri Local Government Employees Retirement System said it recently issued a $40 million commitment to Fund V.

The fund will be investing in select service and extended stay hotels.

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