Pension fund allocates $50m to two vehicles. : Indiana Public Retirement System is investing $50m (€43.1m) with specialist hotel fund manager Noble Investment Group. The pension fund’s capital will be split between the two funds, Noble Fund IV-Income and Noble Fund IV-Value, according to a pension fund board meeting document. According to sources that track the capital raising, Noble is seeking to raise of $260m for the Income fund and $240m for the Value fund. Last month, the real estate manager held first closings, raising $98m for the Income fund and $106m for the Value fund.