Icona Capital, an established alternative investment firm, has entered into an agreement with Cromwell Property Group to acquire its European fund management platform, including its co-investments. The acquisition, conducted through real estate manager Icona Capital, a well-established alternative investment firm, has strategically partnered with Cromwell Property Group to acquire its European fund management platform, including key co-investments. This acquisition, executed through real estate manager Stoneweg, significantly expands Icona Capital’s asset base.

The deal encompasses the ownership of Cromwell Europe  ted, a 27.8% stake in CEREIT (a Singapore-listed real estate investment trust), and the management arm of CEREIT based in Singapore. Additionally, Icona gains partial ownership in the Cromwell Urban Italy Logistics Fund, further enhancing its European real estate footprint.

Key Highlights:

• Strategic Acquisition: Partnership with Cromwell Property Group to acquire European platform and co-investments
• Expanded Real Estate Portfolio: Including residential, logistics, hospitality, office, and leisure sectors across Europe
• Collaborative Management: Icona Capital and Stoneweg team up to manage assets, under the leadership of Icona Capital’s CEO, Max-Hervé George
• Growth Opportunity: Aiming for further expansion and diversification across commercial, residential, and mixed-use properties in Europe.

This strategic partnership brings together Icona Capital’s expertise in alternative investments and Cromwell Europe’s robust background in real estate management. The collaboration offers a complementary skill set to strengthen their collective presence in the European market, unlocking new growth opportunities in Europe’s dynamic real estate sector.

Contact us at press@iconacapital.com