Bridgepoint Group plc to Acquire Kayne Anderson Real Estate

Bridgepoint Group plc has agreed to acquire Kayne Anderson Real Estate (KARE) for an upfront enterprise value of approximately $1.393 billion (about $759 million cash and about 189 million newly issued Bridgepoint shares, plus performance-based consideration). The deal adds real estate as a fifth investment vertical and is expected to expand Bridgepoint’s U.S. footprint, with Kayne Anderson Real Estate management continuing to run the platform under the “Kayne Bridgepoint” brand.