A $1.4 billion deal caused shares in Bridgepoint Group plc to jump 17% today.

The valuation of the mid-market investor hit £2.4bn following the news of its move to acquire Kayne Anderson Real Estate, with the combined firm to hold $117bn in Assets Under Management spanning private equity, credit, infrastructure, real estate and secondaries.

Expected to complete at the end of 2026, subject to shareholder approval, regulatory approvals and fund consents, the deal comprises $759 million of cash and approximately 189 million newly issued Bridgepoint Shares, with further consideration subject to management fee-related performance hurdles.

UK-headquartered and -listed Bridgepoint’s share price remains 3% down in the year to date.