TRAIL WELL SLP

Wellness & longevity

Launched by TRAIL in partnership with Rudy Gobert, WELL is, to our knowledge, the world’s first private equity fund dedicated to wellness and longevity.

FPCI managed by TRAIL Solutions Patrimoine, a portfolio management company authorized by the AMF under number GP-04000041.

Wellness and longevity are becoming one of consumers’ top spending priorities worldwide, ahead of traditional luxury, fashion and even cars. Wellness and longevity care is now the fastest-growing luxury category (source: BCG), and 13% of aspirational consumers are actively shifting their budgets towards it. Having started in the United States, this underlying trend is now spreading rapidly across Europe.

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Investment thesis

WELL targets an investment universe characterized, according to our analysis, by high margins. It is structured around four major verticals, each driven by long-term growth dynamics and structurally expanding demand.

  • Fitness and mental wellbeing: physical and mental health is becoming one of the top discretionary spending items for affluent consumers worldwide. Coaching, meditation and thermal wellness players, many of them digital, capture a loyal customer base with very high recurrence.
  • Nutrition and microbiome: supplements, nutraceuticals, gut health. A market driven by the convergence of science and everyday life, with gross margins among the highest in consumer goods, according to our analysis.
  • Prevention and health technology: biomarkers, nutritional scoring, femtech. Predictive medicine is entering the home, and the segment’s leaders are building up considerable proprietary data, a lasting competitive advantage.
  • Recovery and regeneration: sleep, regenerative therapies, detox retreats. One of the last segments of wellness that remains largely unconsolidated, with rapidly accelerating demand and strong pricing power.

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Ethical and financial alignment

WELL invests in companies that help people live better. For us, profitability and impact are not at odds: we seek to bring them together. Each holding is selected for its solid fundamentals (companies that are profitable or on track to become so) and for a value proposition centered on lastingly improving its users’ wellbeing.

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Key features

  • Minimum investment: €100,000
  • Legal form: FPCI (French professional private equity fund)
  • Eligible investors: individuals and legal entities qualifying as sophisticated investors
  • Non-residents: eligible under certain conditions
  • US Persons: eligible (see fund regulations)
  • Capital calls: progressive, from the first closing
  • Number of holdings: more than 10
  • Ticket per holding: €1m to €10m
  • Positioning: minority, co-investment, value-add partner
  • Segment: Growth
  • Geographic scope: worldwide

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Main risks

  • Risk of capital loss: investing in this fund carries a risk of partial or total loss of the capital invested. There is no guarantee of return or of repayment of capital.
  • Liquidity risk: this is an unlisted private equity fund. Its units cannot be traded on a regulated market. Investors must be able to tie up their capital for the entire life of the fund (typically 10 years).
  • Leverage risk: portfolio companies may be financed with debt (LBO). Leverage amplifies performance, both upwards and downwards.
  • Sector concentration risk: the fund is concentrated on the wellness and longevity sector. An adverse change in this sector, whether regulatory or economic, may have a significant impact on its overall performance.
  • Geographic and currency risk: the fund invests worldwide. Investments outside the euro area expose investors to currency risk, and local regulatory frameworks may vary significantly from one country to another.
  • Growth company risk: some target companies may be in a phase of rapid growth and not yet generating stable profits. This profile involves a higher operational risk than mature companies.

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Tax information

The tax treatment of an investment in WELL depends on each investor’s personal situation and may change in line with the tax legislation applicable in their country of residence. TRAIL Solutions Patrimoine recommends that investors consult their tax or legal adviser before investing. TRAIL Solutions Patrimoine cannot be held liable for the tax consequences of an investment in this fund.

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Legal and regulatory information

Management company: TRAIL Solutions Patrimoine, a portfolio management company authorized by the French Financial Markets Authority (AMF) under number GP-04000041, 12 avenue Matignon, 75008 Paris, with share capital of €370,366.00.

Fund type: WELL is a French professional private equity fund (Fonds Professionnel de Capital Investissement, FPCI). ISIN code: FR0014015BT0. Depositary: ODDO.

Target investors: this fund is reserved for sophisticated investors (“investisseurs avertis”) within the meaning of Article L. 214-144 of the French Monetary and Financial Code. It is not suitable for non-sophisticated investors and must not be offered to them.

Non-resident investors: investors who are not French tax residents may subscribe, subject to verification of their eligibility under the regulations applicable in their country of residence. Each investor is responsible for ensuring that they are authorized to invest in this fund under their own national legislation.

Legal documents to read before subscribing: before investing, investors must read the Key Information Document (KID) and the fund regulations, available free of charge from TRAIL Solutions Patrimoine and on its website. These documents contain all the information required to make an investment decision, including risks, fees and investment policy. They are the only legally binding contractual documents; this page is not a substitute for them.

Past performance: past performance is not a reliable indicator of future performance and is not constant over time. Any performance objectives are indicative, non-guaranteed targets based on market assumptions that may not materialize. Any figures quoted are purely indicative and may be revised at any time.

Geographic investment scope: the fund invests worldwide, with a focus on developed markets (United States, Europe, Asia-Pacific). Investments outside the euro area expose investors to currency risk. Differences in regulatory frameworks between countries may affect the valuation and liquidity of assets.

SFDR classification: this fund falls under Article 8 of Regulation (EU) 2019/2088 (SFDR): it promotes social characteristics related to improving people’s wellbeing and health. The management company undertakes to integrate environmental, social and governance (ESG) criteria into its investment analysis and selection process. Pre-contractual and periodic information on these sustainability characteristics is available on the TRAIL Solutions Patrimoine website, in accordance with the SFDR.

Countries of distribution: this page is intended for sophisticated investors located in France and in European Union countries where the fund has been notified for marketing. It does not constitute an offer or solicitation in any country where such an offer would be unlawful or unauthorized, in particular the United States of America. TRAIL Solutions Patrimoine has not filed any registration application with regulatory authorities outside the European Union.

Update: this information is provided for information purposes only and may be changed without notice. Last updated: September 28, 2026.

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