Prime Highlights
- Bridgepoint Group will acquire Kayne Anderson Real Estate in a deal valued at more than $1.39 billion, creating a platform with $22 billion in assets under management.
- Kayne Anderson Real Estate’s leadership team will continue to manage the business under the new Kayne Bridgepoint brand after the acquisition.
Key Facts
- Bridgepoint Group is a London-based private equity investment firm focused on middle-market private market investments across multiple asset classes.
- Kayne Anderson Real Estate has invested more than $5.4 billion in senior housing and has backed over 110 senior living communities across 25 US states since 2013.
Background
Private equity firm Bridgepoint Group has agreed to acquire Kayne Anderson Real Estate in a transaction valued at more than $1.39 billion, expanding its presence in the United States and adding real estate as a core investment strategy.
Under the proposed deal, Bridgepoint will combine its operations with Kayne Anderson Real Estate to create a platform managing about $22 billion in assets across private equity, credit, infrastructure and real estate. The acquisition includes $759 million in cash and 189 million newly issued Bridgepoint shares.
Following the transaction, Kayne Anderson Real Estate’s leadership team, led by Chief Executive Officer Al Rabil, will continue to manage the business under the Kayne Bridgepoint brand. Bridgepoint said the acquisition would strengthen its real assets portfolio, broaden its investor base and increase its management fee earnings from the US market.
Kayne Anderson Real Estate has built a strong presence in senior living investments. Since 2013, the firm has invested in more than 110 private-pay senior living communities across 25 US states, covering over 15,000 units. Its senior housing investment portfolio has reached $5.4 billion since inception.
The company has also invested in medical offices, student housing, attainable housing, real estate debt and other alternative property sectors. Earlier this year, Kayne Anderson Capital Advisors closed its largest investment fund of more than $5 billion, with senior living identified as a key investment focus.
Bridgepoint said the acquisition supports its strategy to build a globally diversified private markets platform. The transaction is expected to close by the end of the year, subject to shareholder and regulatory approvals.
