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.
