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Lincoln National Corporation
Lincoln National Corporation is a corporate investor based in Radnor, US. It manages $128.5 billion in assets across 126 funds, primarily in North America.
Overview
Lincoln National Corporation is a corporate investor based in Radnor, US. It manages $128.5 billion in assets across 126 funds, primarily in North America.
General information
Firm type
Corporate Investor
Year founded
1905
Location
Region
North America
Country
United States
City
Radnor
Corporate office
150 N. Radnor Chester Road, Radnor, PA, United States
Additional offices
Fort Wayne, IN · Greensboro, NC
Principals
Ellen Cooper
Chairman, President, and CEO
Bain Capital
Strategic partner and 9.9% equity stakeholder
Sector focus
Frequently asked questions
Who runs investment decisions at Lincoln National Corporation?
Ellen Cooper, elevated to Chairman, President, and CEO in 2022, oversees all capital allocation. Cooper previously served as Lincoln's Chief Investment Officer, so investment decision-making sits at the CEO level. The firm's investment team manages the general account portfolio from Radnor, Pennsylvania, with regional origination offices in Fort Wayne, Indiana, and Greensboro, North Carolina.
How is Lincoln National Corporation related to Bain Capital?
In October 2023, Bain Capital acquired a 9.9% equity stake in Lincoln National Corporation (per Reuters, 2023). The partnership grants Bain a board observer seat and establishes a strategic relationship designed to channel Bain's alternative asset management expertise into Lincoln's general account. This creates a co-investment pipeline that is unusual for a publicly traded mid-tier US insurer.
What does Lincoln National invest its general account in?
Lincoln's general account is heavily allocated to investment-grade corporate bonds, commercial mortgage loans, and private placement debt. The firm also invests in commercial real estate equity, institutional limited partnership commitments, and increasingly, alternative assets accessed through its Bain Capital relationship. The portfolio supports Lincoln's core life insurance and annuity liabilities.
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