00:00L. Catterton, backed by luxury giant LVMH, has led an $800 million funding round for FlexJet,
00:07taking a roughly 20% stake that values the private jet company at about $4 billion.
00:13It marks the largest equity investment ever in the private aviation sector,
00:17with involvement also from KSL Capital Partners and J. Safra Group.
00:22The majority of the capital is earmarked for expanding FlexJet's fleet,
00:25particularly larger international aircraft, and enhancing its infrastructure,
00:31all while a portion pays dividends to existing shareholders.
00:34The deal underscores a shift towards experiential luxury as younger, ultra-wealthy travelers,
00:40especially in tech and crypto, fuel growing demand for bespoke, high-end private air travel.
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