RADNOR, Pa. — Lincoln Financial (NYSE: LNC) is expanding into private markets with the launch of two new investment funds in partnership with Bain Capital and Partners Group, the company announced Tuesday. The funds, set to debut in late 2025, aim to provide individual investors access to private credit and royalty-based investments, with a combined initial target of $1 billion.
Bain Capital will manage a private credit fund featuring a diversified global portfolio, including direct lending, asset-based finance, and structured credit. The evergreen structure will allow investors to access private credit strategies traditionally limited to institutional investors.
“Private market investments have long been a staple for institutional and high-net-worth investors, but demand from individual investors is rising,” said Jayson Bronchetti, Lincoln Financial’s chief investment officer. “We’re excited to partner with top-tier asset managers to bring these strategies to a broader audience.”
Partners Group will oversee a royalty-focused fund, investing across industries such as pharmaceuticals, entertainment, energy transition, sports, and brands. The fund will pursue direct royalty purchases, royalty creation, and lending against royalty streams.
“By combining our expertise in private markets with Lincoln’s expansive distribution platform, we can broaden access to these opportunities,” said John Wright, partner and global head of credit at Bain Capital.
Lincoln Financial has also hired industry veteran Tom Morelli to lead distribution efforts for the new private market funds.
With these new offerings, Lincoln Financial aims to further integrate private market strategies into individual investment portfolios, reinforcing its position as a key player in alternative investments.
