The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Icona Capital, Stoneweg
Global real estate investment company Stoneweg and London-based investment firm Icona Capital this week announced Icona's acquisition of a 40 per cent minority stake in Stoneweg.

The agreement enhances Stoneweg's growth trajectory as it establishes itself as a global real estate player, with a focus on sustainability, the firm said in a statement. 

The partnership will support Icona's ESG-focused pipeline comprising prime real asset investments in critically dislocated markets. The transaction creates a combined €8 billion ($8.5 billion) platform leveraging both partners' capital sourcing, deal flow origination and asset distribution capabilities, the firm continued.

Welcoming the move, 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, added: "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 said it has been identifying real estate opportunities and structuring investment products in Switzerland, Spain, Andorra, Italy, the UK, Ireland and the US since 2015. The company has enjoyed a period of growth since its inception and now employs over 140 professionals managing more than €5 billion of real estate assets.

Based in London, Icona, an investment firm, 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, the firm said.