Bain Capital to Acquire 9.9% Stake in Lincoln Financial for $825 Million
April 9, 2025
Bain Capital will acquire a 9.9% equity stake in Lincoln Financial (via Lincoln National Corporation) for $825 million in an all-cash transaction. The parties also agreed to a 10-year, non-exclusive strategic investment management relationship, with Bain becoming an investment manager across multiple asset classes to provide growth capital and value creation support.
- Buyers
- Bain Capital
- Targets
- Lincoln Financial (Lincoln National Corporation / LNC equity), Lincoln National Corporation (LNC) (selling shares)
- Sellers
- Lincoln National Corporation (LNC)
- Industry
- Financial Services
- Location
- Pennsylvania, United States
- Transaction Type
- Growth capital
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