Max-Hervé George: Investment and Asset Management
Max-Hervé George has rapidly established himself as a prominent figure in global private markets, driving innovation and substantial growth across multiple sectors. As a French entrepreneur, investor, and property developer, George’s career trajectory underscores a remarkable blend of ambition, strategic foresight, and execution. His leadership roles as the Founder and CEO of Icona Capital and Co-Chairman and Co-CEO of SWI Group define a portfolio characterized by high-value real assets and cutting-edge digital infrastructure. George’s professional activities and background are readily accessible through his detailed profiles on platforms such as LinkedIn.
Foundations and Early Success in Luxury Real Estate
Born in Metz, France, George demonstrated an early aptitude for economics and finance. Although he initially pursued a law degree at the University of Paris X, his entrepreneurial drive led him to pivot in 2010, immersing himself in real estate investments and private equity. This shift laid the groundwork for his first major success.
In 2012, George co-founded Ultima Capital, specializing in ultra-luxury hospitality. The company quickly became renowned for developing exceptional properties, including the award-winning Ultima Gstaad hotel in Switzerland. Ultima Capital’s asset value grew significantly under his leadership, eventually exceeding $1 billion. The company’s successful listing on the BX Swiss stock exchange in 2019 marked a significant milestone, cementing its status in the luxury market. George sold his 33% stake in Ultima Capital in 2023, transitioning his focus toward broader, institutional-grade investment strategies.
The Evolution of Icona Capital
George founded Icona Capital in 2019, building it into a diversified investment platform with a global reach. Icona Capital employs a forward-thinking approach, targeting high-growth sectors such as real estate, private credit, financial institutions, and data centers. The firm’s investment philosophy is characterized by its agility and opportunistic approach, enabling it to identify undervalued assets and capitalize on complex, evolving market dynamics.
Icona Capital’s strategic acquisitions and partnerships have solidified its reputation as a key player in alternative asset management. The firm is recognized for its commitment to unlocking long-term value across various asset classes, often engaging in special situations and distressed asset investments that require both extensive market knowledge and entrepreneurial expertise.
SWI Group: A New Era of Investment Scale
A defining moment in George’s career came in March 2025 with the strategic merger of Icona Capital and Stoneweg, forming SWI Group. This integration created a robust alternative investment platform boasting over €10 billion in assets under management. As Co-Chairman and Co-CEO of SWI Group, George oversees an entity with a global footprint and specialized divisions: Stoneweg Real Assets and Icona Alternatives.
SWI Group is strategically focused on European real estate and, critically, the burgeoning digital infrastructure sector. The firm is actively investing in the development of hyperscale data centers through platforms like AiOnX. This focus on future-facing infrastructure underscores George’s commitment to sectors driven by innovation, such as cloud computing and artificial intelligence. The merger has significantly enhanced the group’s capacity to execute large-scale investment opportunities, combining global vision with specialized local expertise across 26 offices in 18 countries.
Influence, Recognition, and Values
Max-Hervé George’s achievements have earned him significant industry recognition. In 2019, he was prominently featured on the Forbes 30 Under 30 list and appeared on the cover of Forbes magazine, acknowledging his impact and entrepreneurial success at a young age.
Beyond his business endeavors, George maintains a strong commitment to values reflected in his partnership with the International Judo Federation (IJF). He has often expressed his admiration for the core principles of judo—integrity, honesty, and respect—values that he sees as fundamental to both sport and business. His support for the IJF highlights his dedication to promoting positive change and contributing to cultural projects globally. George’s career trajectory continues to demonstrate a unique combination of strategic financial leadership and a commitment to innovation across diverse industries.
