Ropes & Gray advised Bain Capital in its agreement to acquire a 9.9% ownership stake in Lincoln Financial for aggregate consideration of $825 million. Lincoln Financial, a provider of retail life and annuity solutions and workplace benefits, and Bain Capital have agreed to enter into a 10-year, non-exclusive strategic investment management relationship, with Bain Capital becoming a strategic asset management partner across a variety of asset classes. The transaction was announced in an April 9 press release.
Founded in 1984, Bain Capital is a global private investment firm with 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management.
The Ropes & Gray team included M&A partner Thomas Fraser, finance partners Patricia Lynch and Jane Rogers, asset management partners Peter Laybourn and Justin Kliger, and tax partner Jim Brown.
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