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Swedbank Robur Alternative Equity I enters in Germany by investing in All inclusive Fitness

Publicerad 15 april 2026

Swedbank Robur Alternative Equity (SRAE) and other investors have entered into an agreement for the acquisition of All inclusive Fitness (AiF) through a continuation vehicle managed by NORD Holding.

All inclusive Fitness is Germany’s leading premium-value chain, with over 170 locations across the country. The company operates in the value premium segment and has grown rapidly in response to strong demand for accessible and high-quality training solutions.

“We invest in AiF from a strong conviction in a resilient and structurally growing segment that is developing significantly faster than the fitness market in general. It is a market driven by long-term health trends, with limited exposure to technological and geopolitical disruptions” says Patrik Westerberg, Senior Portfolio Manager, Swedbank Robur Alternative Equity I.

“With this transaction, we have invested across Sweden, Norway, Denmark, and now also Germany. This supports our capability to find opportunities and deploy capital in the wider European landscape and sets an important foundation for the expansion of our Alternative Equity program for our investors”, says Lorenzo Gregory Sormani, Senior Portfolio Manager, Swedbank Robur Alternative Equity I.

“We are pleased by NORD’s introduction of Robur as a new investor into All inclusive Fitness. Their strong track record in supporting buy-and-build platforms and sustainable growth makes them a strong partner for our next phase of expansion” says Stephan Schulan, founder and CEO of AiF.

About Swedbank Robur Alternative Equity I
Swedbank Robur Alternative Equity I is a Swedish-based alternative investment fund for professional investors established in 2022.
The fund invests long-term in unlisted Swedish, Nordic companies and, to a lesser extent, in the rest of the EEA. Investments are made in both established growth companies and other privately owned companies with a focus on sustainable value creation and transformation. The investment in All inclusive Fitness is the seventh for the Fund and the fund is still in its investment period.