Strategic Mergers and Global Growth: How Integration and Diversification Built a $11 Billion Investment Platform
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The strategic vision and clear direction behind Icona Capital and Stoneweg's merger to create SWI Group exceeds their USD 11 billion multi-region investment portfolio in Europe, North America, and Asia. The initiative represents more than just rebranding because it transforms modern international investment platforms into a new era of possibilities.
The journey began under the leadership of Max-Hervé George at Icona Capital when Stoneweg became the firm's Swiss investment advisory partner in 2020. Their collaboration gained significant media attention with the acquisition of a 211,000 sqm Casbega bottling plant in Fuenlabrada, Madrid. Thor Equities later purchased the property to develop a USD 650 million state-of-the-art data center—an opportunity first identified by George and his team and executed in partnership with Stoneweg.
Strategic Synergy and Shared Vision
Through his analysis, Max-Hervé George saw how Icona Capital's alternative investment methods would collaborate with Stoneweg's real estate knowledge. George has assumed the Chair role at SWI Group to emphasize that the merged entity expands markets while offering expanded products to draw investment from institutional clients. Through strategic partnership, the venture builds an international investment solution yet stays closely connected to local market dynamics, supported by local workforce expertise.
As Co-CEO of SWI Group, Jaume Sabate formerly served as Stoneweg CEO before the teams converged effortlessly. "We established multiple acquisition alliances with Max-Hervé George and his Icona Capital teams; therefore, we look forward to uniting our work locations," he declared. SWI Group was officially formed in 2024 from the combined strengths of Stoneweg Real Estate Foundations and Icona Capital's various portfolio holdings.
Icona Capital expanded its operations to luxury hospitality through the acquisition of a Maldivian island that would become an ultra-luxury resort development project prior to the merger. Through its fundamental business strategy, SWI Group continues to develop digital infrastructure and logistics and warehousing systems, which represent prominent growth markets in the modern global economy.
Landmark Acquisition and Increased AUM
A crucial acquisition moment happened when Redefine Properties, together with Oak Grove, jointly invested USD 330 million to buy Cromwell Property Group's European fund management infrastructure with its associated investments. Under the deal, the company obtained USD 4.2 billion worth of assets under management through a stake purchase in Cromwell European REIT, which amounted to 27.8 per cent. The company took a significant step towards establishing its institutional infrastructure, according to George. The organization enhances its exposure to modern business sectors as well as international markets, which play an essential role in its multi-asset structure.
A Global Platform with Local Expertise
SWI Group currently has over 350 professionals working in 26 offices distributed across 18 countries. The company unites its international investment ideas with domestic market knowledge through a single operation. The company plans infrastructure-driven expansion through its dedication to the UK market and its goal to enhance data center and logistics operations.
The transformation of Icona Capital and Stoneweg into SWI Group is more than a corporate restructuring, it's a case study in how to scale through strategic integration. By leveraging complementary strengths and maintaining an agile, multi-asset investment approach, SWI Group offers a blueprint for converting niche expertise into global dominance.
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