Top private equity news of the week

L Catterton, the consumer-focused private equity firm backed by LVMH and Bernard Arnault’s family holding company, has led an $800m investment in Flexjet, marking the largest fundraising to date in the private aviation sector.

The transaction values Flexjet at approximately $4bn, up from a $3.1bn valuation during a previously abandoned SPAC listing in 2022. Other investors in the round include KSL Capital Partners and J Safra Group. According to sources cited by the Financial Times, 25% of the capital raised will be paid out as dividends to existing shareholders.

EQT has announced that its EQT X fund will acquire Adevinta’s Spanish operations, which include some of the country’s most prominent online classifieds platforms: Coches.net, InfoJobs, Milanuncios, Fotocasa, and Habitaclia.

The acquisition reinforces EQT’s strategic focus on high-growth consumer internet platforms and follows a series of digital and tech-focused investments across Europe. The deal is expected to close in Q1 2026, pending customary regulatory approvals.

Read more here.

Cinven, KKR, and Providence Equity Partners are exploring an exit from MasOrange, their Spanish telecoms joint venture with Orange SA, in a potential deal that could exceed €5bn ($5.9bn), according to Bloomberg sources familiar with the matter.

The private equity trio owns a 50% stake in MasOrange, formed through the €18.6bn merger of MásMóvil and Orange Spain in 2022. The remaining 50% is held by Orange, which is reportedly considering a partial or full buyout, with an indicative valuation closer to €4bn. The discussions are at a preliminary stage, and no final decision has been made.