SWI Group formed from Icona Capital and Stoneweg to operate with combined assets of more than €10 billion

Aggregate assets under management of €10 billion in the European and US Living, light industrial, logistics, Data Centres, hospitality, office, and cultural and leisure sectors
SWI Group has over 350 professionals located in 25 offices across the world
Integration of SWI Group provides both scale and product diversification to attract higher levels of institutional investment as a leading alternative investment platform

LONDON, GENEVA, and LUXEMBOURG, March 25, 2025 /PRNewswire/ — Icona Capital, the London and Luxembourg based alternative investment group, and Stoneweg, the real estate investment group headquartered in Geneva, today announce they will now both operate under the newly formed SWI Group brand with more than €10 billion of assets under management.

Together Icona Capital and Stoneweg recently completed the acquisition of Cromwell Property Group’s European fund management platform and associated co-investments. The €3.9 billion of real estate assets, which included 27.8% of the Cromwell European REIT, were acquired for a total consideration of €280 million and provide SWI with immediate growth, scale and product diversification capabilities.

New management talent has also recently joined SWI Group and have already been instrumental in adapting the Group’s strategy as a leading alternative platform whose mission is to become more scalable, elevate growth and optimise more investment opportunities.

SWI Group defines its business activities into two distinct business groupings: Stoneweg Real Assets, and Icona Alternatives. Stoneweg Real Assets will primarily focus its strategies across Living, Hospitality, Logistics, Offices, Real Estate, Infrastructure, Data Centres, and Experiential Ventures. Icona Alternatives will concentrate on Private Equity, Venture Capital, Special Situations, Liquid Strategy, Private Credit, Sports & Entertainment.

SWI Group has over 350 employees spread across 25 offices, in 17countries in Europe, North America, and Singapore. A strong global presence with local based talent is one of the key advantages of the SWI Group. The majority of the team have been experts within their fields for many years with both local knowledge and the network required to carry out their specialized asset management roles.

The creation of the SWI Group is a key development and elevates the combined standing of both Icona and Stoneweg. We have created a highly attractive institutional investment platform based around our global reach with local talent. It brings together the benefits of a larger integrated business, increased AUM, enhanced efficiency and our global presence. At its heart, this combination will deliver more attractive opportunities for our clients. SWI Group will be more robust, more diverse and increase our capacity to deliver continued growth and, with the support of third-party institutional capital, allow us to execute on more investment opportunities.

Max-Hervé George

former Chairman and CEO Icona Capital, now Chairman and Co-CEO SWI Group

We have worked with Max-Hervé George and his teams from Icona Capital on numerous acquisitions and we are eager to work together as one team. Following on from the recent acquisition of the Cromwell Property Group’s European Platform, we are now taking another transformative step as we combine our two dynamic businesses into their two respective fields of expertise: Real Assets and Alternative Investments, all under the single, powerful brand of the SWI Group

Jaume Sabater

former CEO of Stoneweg and now Co-CEO of SWI Group

About SWI Group

SWI Group (www.swi.com ) is an alternative investment platform driven by a strong entrepreneurial spirit that operates in a number of sectors, including Data Centres, Real Estate, Credit, and the Financial Sector. The company’s investment strategies are grounded in thorough research, in-depth first-hand knowledge, and the ability to efficiently implement strategies to maximise the greatest return potential.

SWI Group relies on local operating teams to identify, develop and manage opportunities around the world, both real estate and investment strategies. SWI Group currently has over €10 billion of assets under management and more than 350 employees across 26 offices across the world.

About Icona Capital

Icona Capital Group is an independent investment firm and financial advisory business established by Max-Hervé George. It is registered and headquartered in London with further offices in Singapore, Geneva and Luxembourg. It advises a number of its own special purpose vehicles across different business segments in real estate, credit, private equity and special situations.

For more information, visit: www.iconacapital.com

About Stoneweg

Stoneweg is a global alternative investment group headquartered in Geneva, Switzerland. Founded in 2015 by a team of seasoned investment professionals, the Group has since grown its platform and capabilities both organically and through strategic acquisitions. Stoneweg is a trusted partner to, and investment manager on behalf of, a wide range of global and local investors, capital allocators and finance houses.
Through a range of tailored solutions, including club deals, joint ventures and co-investments, it has a strong investment track record across a range of strategies, both private and listed, and asset classes.

For more information, visit: www.stoneweg.com

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