London based Icona Capital has bought a 40% minority stake in Stoneweg for an undisclosed amount.
The strategic partnership will support Icona's ESG-focused multi-billion pipeline of real asset investments in critically dislocated markets. The transaction creates a combined €8 billion platform leveraging both partners' capital sourcing, deal flow origination and asset distribution capabilities.
Established in 2015, Stoneweg has invested in Switzerland, Spain, Andorra, Italy, UK, Ireland and the US during that period. It now employs over 140 professionals managing more than €5 billion of real estate assets.
In 2021 Stoneweg setup its own dedicated hospitality platform to invest in the industry. It has since formed a joint venture with Bain Capital Credit and purchased a number of properties. It focuses on value-add investments in southern Europe.
Icona is an independent investment firm headquartered in London. It advises several investment vehicles across different asset classes in real estate, credit, private equity, special situations and growth equity. Most of Icona's €3 billion assets are controlled and managed by a team led by Max-Hervé George, founder and CEO of Icona.
What they said
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."
Jaume Sabater, founder and CEO of Stoneweg, said: "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."