UPDATE 1-UK's Bridgepoint to buy Kayne Anderson Real Estate in $1.39 billion deal

Kayne Anderson Energy Infrastructure Fund, Inc.

Kayne Anderson Energy Infrastructure Fund, Inc.

KYN

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Adds details throughout, shares

- UK-based private equity firm Bridgepoint BPTB.L will acquire Kayne Anderson Real Estate, it said on Monday, in a deal valued at about $1.39 billion, including debt, and comprising $759 million in cash and around 189 million newly issued shares.

The deal for the U.S.-based real estate group will diversify Bridgepoint's offerings and grow its geographic footprint in the key market, while also broadening fee income streams. The combined entity is expected to manage about $117 billion in assets.

Bridgepoint expects the deal to boost its earnings per share by a mid-single-digit percentage in 2027 and by more than 20% in 2028, while deepening its U.S. presence.

Its shares rose about 5% in early trading.