Bridgepoint to buy Kayne Anderson real estate arm in $1.4bn cash & shares deal

(Sharecast News) - UK private equity group Bridgepoint on Monday said it was buying the real estate arm of US investment firm Kayne Anderson for $1.4bn, as it makes a move into the US property sector.

The deal comprises $759m in cash and around 189m new Bridgepoint shares.

Kayne Anderson Real Estate is a leading real estate investment platform, headquartered in Boca Raton, Florida, with $22bn of assets under management.

Reporting by Frank Prenesti for Sharecast.com