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Formation of SWI Group
Icona Capital and Stoneweg have announced the formation of SWI Group, a new alternative investment platform with over €10 billion (US$10.78 billion) in assets under management.
Sector Focus and Geographic Reach
The group will focus on a range of sectors including data centres, living spaces, logistics, and hospitality across Europe and the United States.
Strategic Acquisition of Cromwell Platform
The integration follows the recent acquisition of Cromwell Property Group’s European fund management platform and associated co-investments for €280 million (US$301.83 million).
Asset Growth: €10 bn AUM and €3.9 bn Portfolio Addition
The acquisition added €3.9 billion (US$4.2 billion) in real estate assets to SWI Group’s portfolio, including a 27.8% stake in Cromwell European REIT.
Dual-Division Structure
SWI Group’s operations are divided into two main business units: Stoneweg Real Assets and Icona Alternatives.
Stoneweg Real Assets Division
Stoneweg Real Assets will concentrate on strategies encompassing living spaces, hospitality, logistics, offices, real estate, infrastructure, data centres, and experiential ventures.
Icona Alternatives Division
Icona Alternatives will focus on private equity, venture capital, special situations, liquid strategy, private credit, and sports and entertainment investments.
Global Footprint: 350 Professionals, 25 Offices
The newly formed group boasts a global presence with 350 professionals across 25 offices in 17 countries throughout Europe, North America, and Singapore.
Leadership: Max-Hervé George
Max-Hervé George, formerly Chairman and CEO of Icona Capital and now Chairman and Co-CEO of SWI Group, said: “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.”
Leadership: Jaume Sabater
Jaume Sabater, previously CEO of Stoneweg and now Co-CEO of SWI Group, added: “This integration is a milestone in Stoneweg’s growth trajectory and strengthens our position in the market as a leading real asset investment 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.”
