VistaJet is set to receive a $600m private equity investment from a consortium led by RRJ Capital, one of Asia’s largest private equity firms.

The deal, expected to be finalised in the coming weeks, will provide VistaJet with fresh capital as it prepares for a public listing within the next three years.

The consortium’s investment will take the form of convertible preference shares, allowing investors to convert their holdings into ordinary shares once VistaJet goes public. The IPO venue is yet to be determined, but the company aims to strengthen its financial position ahead of the listing by using the proceeds to reduce its $4bn debt burden.

Founded in 2004 by Thomas Flohr, VistaJet has established itself as a major player in the private jet charter market. It currently operates 98 aircraft under its Malta-based airline and holds an AOC in Germany. The company also partners with Vista America, a network of US-based operators, bringing its total global fleet to approximately 360 aircraft.

RRJ Capital, the lead investor in this transaction, was founded in 2011 by Richard Ong and currently manages $16bn in long-term capital. The firm has a diverse portfolio across Asia Pacific, Europe, and the US, with investments spanning healthcare, finance, technology, and logistics.

VistaJet’s move to secure private equity backing highlights the growing demand for private aviation, as well as the private equity industry’s continued interest in high-growth transportation assets.