Private banking group CBH Compagnie Bancaire Helvétique has bought a minority stake in Stoneweg.
CBH now holds a 16 per cent stake in Stoneweg following its acquisition of a portion of the shares that Icona Capital acquired in the December 2022 transaction. Icona Capital now owns 24 per cent. The founding partners of Stoneweg remain the major shareholders.
Stoneweg, via its hospitality platform, owns and manages a portfolio of hotels in southern Europe. It recently bought two Spanish hotels for €83 million.
What it means
The deal gives Stoneweg access to CBH's financial and capital markets expertise, as well as a key relationship with a recognized Swiss financial institution.
What they said
Jaume Sabater, CEO of Stoneweg, said: “The addition of CBH to our shareholder base is recognition by a highly reputable institutional investor of the successful platform we have built to date. This is another important milestone in the trajectory of the business as we further diversify our shareholder base with a partner that shares our values of excellence and innovation and is seeking to deploy its capital effectively and efficiently. It will enable us to deliver on our exciting growth ambitions in those target sectors where the underlying real estate fundamentals and broader structural drivers remain highly compelling.”
Amos Poncini, CIO of CBH, said: “Investing in one of the leading global real estate asset managers is an opportunity to consolidate and perpetuate the alternative investment product range we have built over the last decade. Stoneweg’s expertise in the real estate universe, as well as its unique sourcing and proven asset management capabilities, has been and will continue to be a cutting-edge investment opportunity channel for the benefit of our private and institutional clientele.”