Max-Hervé George is a dynamic figure in the global investment landscape, recognized for his visionary approach to private markets and his exceptional track record in both real assets and digital infrastructure. As the Founder and CEO of Icona Capital and Co-Chairman and Co-CEO of SWI Group, George has built a reputation based on strategic execution, long-duration capital, and a commitment to future-facing sectors.
A Career Built on Strategic Foresight
George’s career began with a keen interest in finance and economics, leading him to pivot from traditional legal studies to focus on real estate investments and private equity. This early decision proved instrumental in his success. In 2012, he co-founded Ultima Capital, establishing a leading portfolio in ultra-luxury hospitality, including the development of the iconic Ultima Gstaad. His ability to identify high-value opportunities and execute complex projects quickly positioned him as a notable entrepreneur in the European market.
Following the successful growth and eventual divestment of his stake in Ultima Capital, George launched Icona Capital in 2019. Icona Capital was established with a focus on scalable, asset-backed opportunities, diversifying investments across real estate, private credit, and specialized alternatives. The firm operates with a “founder-first, value-oriented approach,” emphasizing sectors with structural resilience and high barriers to entry.
Pioneering Digital Infrastructure with SWI Group
A significant highlight of George’s career is the formation of SWI Group in March 2025, a result of the strategic merger between Icona Capital and Stoneweg. This merger created an investment powerhouse with over €10 billion in assets under management, allowing for enhanced scale and diversification.
Under George’s leadership, SWI Group has made a bold pivot toward digital infrastructure, recognizing AI and data centers as foundational elements for future economic growth. SWI Group is actively developing hyperscale data centers through its AiOnX platform, with ambitious plans for a 2GW total capacity across Europe. George views these investments not just as a trend, but as essential foundations supporting Europe’s growing demand for compliant and resilient compute capacity. The firm is focusing on greenfield and brownfield sites, integrating sustainable designs and efficient cooling systems to meet stringent ESG requirements.
Recognition and Global Presence
George’s influence has garnered international recognition. In 2019, he was included in the prestigious Forbes 30 Under 30 list and featured on the cover of Forbes magazine, marking him as one of Europe’s leading young entrepreneurs.
Beyond his professional achievements, George is a dedicated partner of the International Judo Federation (IJF). This partnership reflects his personal commitment to the values inherent in judo—integrity, discipline, and respect—principles he integrates into his business philosophy.
George’s professional and entrepreneurial journey is characterized by a dynamic approach to investment, leveraging a deep understanding of market dynamics to create significant value across diverse and future-ready sectors.