London-based investment company Icona Capital has acquired a 40% minority stake in global real estate player Stoneweg.
Financial details were not disclosed.
The transaction creates a combined €8 bn platform, which both companies claim exploits their 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.'
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.'
Stoneweg has been identifying real estate opportunities and structuring investment products in Switzerland, Spain, Andorra, Italy, UK, Ireland and the US since 2015. The company has enjoyed a strong period of growth since its inception and now employs over 140 professionals managing more than €5 bn of real estate assets.
Icona, an independent investment firm headquartered in London, advises several investment vehicles across different asset classes in real estate, credit, private equity, special situations and growth equity.
Most of Icona’s €3 bn assets are controlled and managed by a team led by Max-Hervé George, founder and CEO of Icona.
