Noble Hospitality Fund holds final close of $233m

Noble Investment Group has held a final close of $233 million for Noble Hospitality Fund III, according to the firm’s website.

The fund launched earlier this year with an equity fundraising target of $250 million to invest in the U.S. hotel sector. The value-added fund focuses on hotel acquisitions, redevelopments and new developments in the top 50 metros in the United States.

Noble Hospitality Fund, the first in the fund series and the firm’s third private equity fund, closed with $310 million in 2007. Fund II closed in 2013 with $220 million, exceeding its $200 million fundraising goal. Both funds follow the same strategy as Fund III. Funds I and II are both fully invested and partially realized.