Lincoln Monetary, a supplier of retail life and annuity options and office advantages, has introduced an funding of $825m from world funding agency Bain Capital.
The events have signed a definitive settlement, whereby Bain Capital will purchase a 9.9% stake in Lincoln Nationwide.
This deal consists of the sale of roughly 18.8 million shares of Lincoln’s widespread inventory at $44 apiece, reflecting a 25% premium to the 30-day volume-weighted common worth as of 8 April 2025.
Completion of the all-cash deal is predicted within the second half of 2025, contingent upon commonplace closing situations together with regulatory approvals.
The funding is meant to assist Lincoln’s priorities together with increasing spread-based earnings, enhancing asset sourcing capabilities and optimising its legacy life portfolio.
The corporate additionally expects “monetary flexibility” from the transaction, which it says will assist ramp up its aim to chop leverage ratio to 25%.
Lincoln Monetary chairman, president and CEO Ellen Cooper stated: “This partnership aligns us with a extremely respected organisation whose highly effective platform and shared values and objectives will allow us to speed up the execution of our technique.
“We’re extraordinarily happy with the strategic and monetary advantages of our mutual capabilities and consider this partnership positions us for future success.”
Lincoln Monetary, which offers annuities, life insurance coverage, group safety and retirement plan providers, had $321bn in end-of-period account balances as of 31 December 2024. The corporate serves roughly 17 million prospects.
Along with the stake buy, Lincoln and Bain Capital signed a ten-year, non-exclusive funding administration relationship.
Beneath this association, Bain will handle investments throughout a number of asset courses together with personal credit score, structured property, mortgage loans and personal fairness.
Bain Capital co-managing accomplice David Gross stated: “For over 120 years, Lincoln has served as a trusted monetary steward for thousands and thousands of individuals.
“This long-term, strategic relationship displays our dedication to advancing Lincoln’s future by offering entry to our high-quality funding platform, experience throughout asset courses and value-added capital. We sit up for working carefully with the Lincoln workforce to additional their organisation in driving significant scale and worthwhile progress.”
For Lincoln Monetary, Goldman Sachs was the monetary advisor and Wachtell, Lipton, Rosen & Katz was the authorized advisor.
Bain Capital secured authorized counsel from Debevoise & Plimpton and Ropes and Grey, with Sumitomo Mitsui Banking performing as structuring advisor.
