Stoneweg

What Stoneweg does

Stoneweg is a Geneva-based global alternative investment group founded in 2015 that specializes in real assets, operating 23 offices across 14 European countries, the US, and Singapore, with €11 billion in assets under management and 275+ employees. The firm structures and manages investment products across multiple real estate sub-sectors — logistics (including last-mile via Glovo and AXIS/Pictet platforms), hospitality (Stoneweg Hospitality with Bain Capital Credit JV), residential (Welco Living with BGO, Bext), offices, retail (new pan-European vertical targeting €1bn AUM), and emerging verticals such as data centres (AiOnX platform), sport infrastructure (Stoneweg Infrasports, Gemswell Surf Madrid with Wavegarden technology), and urban logistics. The platform operates through unlisted fund structures (Club Deals, Pooled Funds, Discretionary Mandates, specialized investment companies) and listed vehicles including Stoneweg Europe Stapled Trust (SERT, Singapore Exchange tickers SEB/SET) and Varia US Properties (SIX Swiss Exchange ticker VARN). The firm is part of SWI Group (SWI Capital Holding Ltd), which listed on Euronext Amsterdam in February 2026 under ticker SWICH with approximately €1.62 billion market capitalization.

Revenue is generated through four streams: asset management fees on pooled funds, discretionary mandates, and specialized investment companies; performance fees and carried interest on fund vehicles; real estate development returns from residential, commercial, hospitality, and logistics projects; and direct financing solutions, with €432 million deployed across 74 senior development loans since 2017. Customer segments include institutional investors (pension funds, insurance companies, sovereign wealth funds — primary segment), family offices and high-net-worth individuals, real estate operators and developers, and logistics operators (tenants including Glovo, Planzer, Combilo). Major institutional capital partners include Icona Capital (40% equity holder since 2022), CBH Bank (16% holder), Bain Capital, BGO, Mutua Madrileña, PenSam, and Pictet Alternative Advisors.

Underlying technology is centered on investment structuring and asset management platforms rather than proprietary software, with a proprietary ESG framework covering 15 material sustainability categories, PRI signatory status, INREV membership, and GRESB assessment scoring (Varia US Properties scored 89 points / 4 stars in GRESB 2025). Distribution occurs through direct institutional sales, listed vehicles on multiple exchanges, and dedicated JV platforms. Recent strategic moves include the SWI Group IPO (February 2026), acquisition of Cromwell Property Group's European platform for €280 million (November 2024, adding €3.9bn AUM), SWI Group acquisitions of Genesis Digital Assets and Polarise in digital infrastructure, and the launch of multiple new funds (Mutuafondo Hospitality €300M, Welco Living €500M JV, AXIS logistics with Pictet). Stoneweg operates within SWI Group alongside Icona Capital, positioning the combined entity as a multi-strategy alternative investment platform with growing exposure to AI infrastructure.

Name

Stoneweg

Legal name

Stoneweg Asset Management SA

Website

https://stoneweg.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Stoneweg is a Geneva-based global alternative investment manager founded in 2015, managing €11 billion in real assets across 14 European countries, the US, and Singapore. The firm serves institutional investors and high-net-worth individuals through club deals, pooled funds, discretionary mandates, and listed vehicles spanning logistics, hospitality, residential, retail, offices, and digital infrastructure.

Ownership category

akta.pro rank

Product category

Alternative Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), Real Estate Property Managers (53131)

SIC

Real Estate Agents & Managers (For Others) (6531), Investment Advice (6282), Real Estate Investment Trusts (6798)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL), Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Real estate investment
• Alternative assets management
• Asset management services
• Real assets platform
• Private equity real estate

Headquarters

HQ city

Geneva

HQ country

Switzerland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Asset Management Fees: Management fees from managing pooled funds, discretionary mandates, and specialized investment companies across real assets strategies
2. Performance/ carried interest Fees: Success-based fees from investment performance across various fund structures including club deals and pooled vehicles
3. Real Estate Development: Development returns from residential, commercial, hospitality and logistics development projects across Europe and US
4. Direct Financing Solutions: Alternative financing business providing senior development loans and financing solutions to real estate developers, having provided €432 million across 74 projects since 2017

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Stoneweg is a global alternative investment manager that identifies real assets opportunities, structures investment products (Club Deals, Pooled Funds, Discretionary Mandates, and listed vehicles such as SERT and Varia US Properties) and manages dedicated mandates across real estate sectors including logistics, hospitality, residential, offices, retail, data centres and experiential ventures in sport, culture, entertainment and gastronomy. The firm additionally operates a direct financing business providing senior development loans to real estate developers.

Product overview

Stoneweg is a global alternative investment group specializing in Real Assets, established in 2015 and headquartered in Geneva, Switzerland. The company operates as a multi-product platform offering both unlisted and listed investment vehicles across real estate sectors. Its unlisted products include various investment strategies (logistics, residential, hospitality, retail, and sports infrastructure) managed through joint ventures and dedicated platforms. Its listed vehicles include Stoneweg Europe Stapled Trust (SERT) on Singapore Exchange and Varia US Properties on SIX Swiss Exchange. The company manages €11 billion in assets across 23 offices worldwide in 14 European countries, the US, and Singapore.

Differentiator

Problem solved

Functional benefit

Brands

• Stoneweg Hospitality: Dedicated platform for hotels and hospitality investments across Southern Europe, operating joint ventures with Bain Capital Credit.
• Stoneweg Infrasports
• Welco Living
• AXIS
• BEEZI
• Mutuafondo Hospitality
• Stoneweg Places & Experiences
• Bext Space

Products and services

• Stoneweg Europe Stapled Trust (SERT)

Quantifiable outcome

• €411 million in non-strategic assets divested at 11% premium since 2022
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Pictet Alternative AdvisorscoreStrategic or Co-development PartnerJoint launch of AXIS, a specialized Dutch last-mile logistics platform. Axis was seeded with 8 high-quality logistics properties totaling approximately 60,000 sqm across the Netherlands, targeting prime urban and last-mile locations in the Randstad area.
• Bain CapitalcoreStrategic or Co-development PartnerMultiple joint ventures including Italian value-add logistics platform (€200 million forward purchase), hospitality joint venture with acquisitions including Hotel Los Monteros, Hotel Don Carlos, and Hard Rock Hotel Marbella conversion. 44,000 sqm lettings completed at Bari logistics hub.
• GlovomajorChannel Partner/ Reseller/ DistributorStrategic partnership for urban logistics strategy where Stoneweg sources and acquires last-mile logistics properties exclusively leased by Glovo. Targets 50+ properties across Spain, Portugal, Italy, and Eastern European markets including dark stores, dark kitchens, and fulfillment centers.
• Mutua MadrileñamajorStrategic or Co-development Partner€300 million joint venture fund targeting hotel acquisitions and repositioning in Spain, Portugal, and Italy. Fund focuses on value-add strategies acquiring underinvested or independently operated properties for renovation and rebranding.
• BGOmajorStrategic or Co-development Partner€500 million joint venture to create Welco Living platform in Spain, debuting with Welco Valdebebas (583 units) in Madrid's Valdebebas district. New flexible accommodation brand targeting modern, sustainable residential solutions.
• PenSammajorStrategic or Co-development Partner€200 million logistics mandate with Danish pension fund PenSam for logistics acquisitions in Denmark, including 16,300 sqm facility in Hørning near Aarhus and approximately 39,000 sqm near Copenhagen.
• Teras CapitalmajorStrategic or Co-development Partner€60 million financing secured for Gemswell Surf Madrid artificial surf complex within Atlético de Madrid's Ciudad del Deporte. European largest artificial surf lagoon using Wavegarden technology, expected to open spring 2027.
• NSN (Never Say Never)minorStrategic or Co-development PartnerJoint venture in professional cycling through NSN Cycling Team, combining sports and entertainment with real assets investment platform.

Scale indicators8 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Patrizia: European-headquartered alternative real estate investment manager with comparable multi-strategy, multi-country platform serving institutional investors. Highly comparable in product mix (logistics, residential, office, hospitality), European footprint and AUM scale (~€50bn+), and in the use of both listed and unlisted vehicles.
• Cromwell Property Group: Australian-listed real estate investment manager whose European fund management platform was acquired by Stoneweg in November 2024 for €280m. Direct strategic peer given the transaction, overlapping logistics and office strategies, and Cromwell's role as both a comparable business model and the source of Stoneweg's recent inorganic scale-up.
• Savills Investment Management: European real estate investment manager offering pooled funds, separate accounts and club deals across logistics, residential, office and student housing. Highly comparable in target institutional client base, multi-country European footprint and use of club deal structures similar to Stoneweg's.
• Benson Elliot: London-based mid-market European real estate private equity manager investing in logistics, residential, office and hospitality via value-add and opportunistic funds. Closely comparable to Stoneweg in strategy mix, size tier and pan-European mid-market focus.
• Henderson Park: London-based European real estate private equity manager backed by Stoneweg-comparable institutional capital, deploying via opportunistic and value-add strategies across logistics, residential, office and student housing. Direct peer in strategy and pan-European institutional investor orientation.

Broad incumbents

• LaSalle Investment Management: Large global real estate investment manager (part of Jones Lang LaSalle) with European and Asia-Pacific fund offerings in logistics, multifamily, office and debt. Comparable to Stoneweg in target institutional client base, multi-strategy open and closed-end fund structures, and AUM scale across geographies.
• AEW Capital Management: Global real estate investment manager with deep European fund and separate account offerings across logistics, residential, office and retail. Comparable in institutional client focus, multi-strategy fund-of-funds and direct investment capabilities, and European logistics thematic emphasis.
• Deka Immobilien: German-headquartered real estate fund manager within the DekaBank Group, managing open-ended real estate funds and separate accounts with significant logistics and European office exposure. Comparable in scale, institutional client focus, and listed/open-ended fund vehicle model.
• Tikehau Capital Real Estate: European alternative asset manager with a real estate arm offering core-plus, value-add and debt strategies across Europe. Comparable in alternative asset platform model, European focus, and institutional client base, though broader in scope than Stoneweg.

Regional players

• Catella Real Estate: European real estate investment manager with strong Nordic and Iberian presence, offering listed and unlisted funds across logistics, residential and office. Comparable in strategy and fund vehicle mix, with geographic overlap in Iberia, DACH and Nordics but with a regional focus that complements Stoneweg's broader pan-European mandate.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/stoneweg

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Stoneweg