Stoneweg Icona data centre fund rebranded to AiOnX; adds fifth asset in UK

[SINGAPORE] The trustee-manager of Stoneweg European Business Trust announced on Wednesday (Jul 2) that SWI Group, the sponsor of Stoneweg Europe Stapled Trust (Sert), has added a fifth data centre site in the UK, to its fund named AiOnX. 

The Cambridgeshire site will be located at Sutton-in-the-Isle, between Cambridge and Peterborough, and be scaled up to a final capacity of 330 megawatts. 

It will also target the UK’s cluster of global technology operators located in the “Golden Triangle” – between Cambridge, Oxford and London – to serve artificial intelligence and cloud demand in the area, and become one of the biggest data centres in the UK. 

The Stoneweg Icona data centre fund – rebranded as AiOnX – will now encompass five high-specification hyperscale data centre sites across strategic European locations including Spain, Italy, and now the UK.

The development plan of the five assets aims at creating 2 gigawatt total capacity for an investment of more than 20 billion euros (S$30 billion), for AiOnX to become one of Europe’s largest data centre owners.

This is one of the first moves by SWI Group – comprising Stoneweg, Icona Capital, its subsidiaries and associates – since it became Sert’s sponsor in end-2024. 

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Stoneweg European Business Trust invests 50 million euros in fund with early-stage data centre sites

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On Jun 24, Stoneweg European Business Trust said that it invested 50 million euros in AiOnX, where its stake in the fund is expected to range from 4 to 8 per cent, depending on the final quantum of investment made by the other investors.

This investment in early-stage data centre sites complements the stapled trust’s existing data centre holdings in Denmark and Poland, so as to diversify into high-growth infrastructure assets alongside its logistics and light industrial portfolio. 

As at 1.58 pm, stapled securities in Sert were trading flat at 1.52 euros on Wednesday.