Icona Capital Boosts Its Liquid Strategy Fund with an Additional €100 Million
Led by Max‑Hervé George, Icona Capital—part of SWI Group—has increased its liquid strategy fund by €100 million.
Apr. 22, 2024

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Led by Max‑Hervé George, Icona Capital—part of SWI Group—has increased its liquid strategy fund by €100 million. This capital injection supports enhanced liquidity across private equity and real estate investments, reinforcing the firm’s dynamic, institutional-grade platform
London, United Kingdom – April 22, 2024 —
Icona Capital, the investment firm founded by entrepreneur Max‑Hervé George and operating as part of the €11 billion SWI Group platform, has announced a further £100 million in funding dedicated to reinforcing its liquid strategy division. The allocation underscores Icona Capital’s commitment to diversifying investment exposure while maintaining agility in an increasingly dynamic financial environment.
The liquid strategy is led by Roberto Giacalone, Global Head of Liquid Strategy at Icona Capital. A cornerstone of the firm’s broader private equity and alternative investment approach, the strategy is designed to enable nimble capital deployment across rapidly shifting market conditions—complementing Icona’s traditional holdings in real estate, digital infrastructure, and private credit.
“We are excited to deploy these funds to further strengthen our liquid strategy,” said Giacalone. “In today’s financial landscape, having a robust and professionally managed approach to liquid investments is critical. This capital will enhance our ability to identify opportunities and respond with precision.”
Icona Capital’s liquid strategy—defined by its responsiveness, analytical discipline, and multi-asset framework—forms a vital pillar of the group’s cross-platform philosophy. Under the strategic direction of Max‑Hervé George, Icona and SWI Group continue to expand their reach across Europe, Asia, and the UK, with a particular focus on building scalable investment ecosystems that combine institutional structure with founder-led agility.
This latest capital injection reflects growing institutional confidence in Icona Capital’s asset allocation model and its long-term conviction approach. The firm remains focused on areas with structural tailwinds, balancing short-term liquidity with long-term capital growth.
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