# Lincoln National Corporation

Lincoln National Corporation is a Corporate Investor based in Radnor, United States.

## Overview

- **Organization type:** Corporate Investor
- **Headquarters:** Radnor, United States
- **Region:** North America
- **Address:** 150 N. Radnor Chester Road, Radnor, PA, United States
- **Founded:** 1905
- **Assets under management:** Undisclosed
- **Website:** lincolnfinancial.com
- **LinkedIn:** https://www.linkedin.com/company/lincolnfinancial

## Regulatory record

- **Reports private funds:** No

## About

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.

## Sectors

- Insurance
- Real Estate
- Private Credit
- Infrastructure
- Hedge Funds

## Offices

- Fort Wayne, IN
- Greensboro, NC

## People

- Ellen Cooper — Chairman, President, and CEO
- Bain Capital — Strategic partner and 9.9% equity stakeholder

## 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.

## Related profiles

- [Lincoln National Corp.](https://altss.com/profile/lincoln-national-corp-lnc)
- [Lincoln Sparrow Advisors](https://altss.com/profile/lincoln-sparrow-advisors)

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Updated: 2026-06-03T20:00:00.000Z

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