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Icona Capital

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Icona Capital is an alternative investment firm founded in 2019, part of SWI Group, focusing on private equity and debt solutions.

Last updated September 1, 2026

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Overview

Icona Capital Group is an alternative investment firm founded in 2019 by Max-Hervé George. It operates as part of SWI Group, with a hands-on approach to private equity and debt solutions. The company targets five high-growth sectors including data centres, financial institutions, liquid strategy, real estate, and special situations/distressed. It manages over €10 billion in assets and has offices in the UK, Luxembourg, Switzerland, and Singapore.

History

Icona Capital Group was founded in 2019 by Max-Hervé George, an experienced entrepreneur, investor, and property developer. It operates as part of SWI Group. The company has grown rapidly into a global leader in investment management. In October 2024, Icona Capital acquired Cromwell's European platform via Stoneweg, doubling real estate AUM to €8 billion. In November 2022, Icona Capital acquired a 40% minority stake in Stoneweg.

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