Indiana commits $50m to real estate fund

The $37.4 billion Indiana Public Retirement System
has committed $50 million to Noble Hospitality Fund IV - Value Add, according to the pension fund’s Oct. 27 board meeting book.

The recently launched Noble Hospitality Fund IV - Value Add fund is managed by Noble Investment Group, an Atlanta-based firm that specializes in making value-added, opportunistic and income investments in upscale select service and extended-stay hotels affiliated with Marriott, Hyatt, Hilton and Intercontinental.

The fund will focus on lodging acquisitions, re-developments and strategic new developments with a primary focus on top 50 MSA’s in the United States.

The previous fund in the series, Noble Hospitality Fund III, closed in 2015 with $233 million in equity, including Noble principals’ commitments. The fund is currently being invested alongside an additional $37 million in LP