Icona Capital acquires 40% minority stake in Stoneweg
Icona Capital, the London-based independent investment firm and financial advisory business, has acquired a 40% stake in Stoneweg, the global real estate investment company, both companies have announced.
In a statement, the companies said that the agreement will enhance Stoneweg’s growth trajectory as it looks to establish itself as a leading global real estate player, with a strong focus on sustainability. It added that the strategic partnership will support Icona's ambitious ESG-focused multi-billion pipeline comprising prime real asset investments in critically dislocated markets.
The transaction creates a combined €8bn platform leveraging both partners' capital sourcing, deal flow origination and asset distribution capabilities.’
Max-Hervé George, founder and CEO of Icona Capital, said: "We see tremendous growth potential utilising the extensive synergies our firms can reap from tapping into our unified vision, entrepreneurial spirit and creativity. Building on Stoneweg and Icona's previous successes together, it was only natural to cement this partnership and bring together our skills and expertise to provide further momentum to our businesses."
Innovative Approaches
The acquisition of the minor stake follows Stoneweg strengthening its management team, as well as its board of directors, in 2022. The group was established in 2015 to offer investors ‘unique opportunities and innovative investment solutions. As such, it has identified real estate opportunities and structuring investment products in Switzerland, Spain, Andorra, Italy, UK, Ireland and the US.
Due to its innovative approach to real estate investment, the company has enjoyed a strong period of growth since its inception and now employs over 140 professionals managing more than €5bn of real estate assets.
Headquartered in Geneva, Switzerland, the firm relies on local operating teams to identify, develop, and manage real estate investments around the world. To date, Stoneweg has invested more than €5 billion in real estate in various sectors including residential, commercial, logistics and hospitality.
The company's expertise lies in both equity and debt investment strategies. Its clients include financial institutions and family offices that invest in a variety of structures, including club deals, joint ventures, and co-investments.
Stoneweg founder and CEO, Jaume Sabater, commented: "Icona's investment in our fast-growing business is a tremendous show of support and a testament to the quality of our advisory and investment work, as well as our industry leading sustainability credentials. We have collaborated with Icona for a long time and look forward to continuing to work together to deliver for our clients in the years ahead."
As an independent investment firm headquartered in London, Icona advises several investment vehicles across different asset classes in real estate, credit, private equity, special situations and growth equity. Most of Icona's €3bn assets are controlled and managed by a team led by George, founder and CEO of Icona, and are spread across 14 countries in Western, Central, and Eastern Europe, as well as in the US.