Bridgepoint's acquisition of Kayne Anderson Real Estate is an encouraging strategic step, Cavendish analyst Jens Ehrenberg writes. The deal delivers improvements in scale, diversification and medium-term growth visibility, he adds. It gives the U.K. investment company a leading real-estate platform with growth potential, he says. Strong earnings accretion combined with further geographic and asset-class expansion is a logical step, he adds, reiterating the buy rating on the stock. Shares rise around 11% to 257.60 pence. ([email protected])