Lincoln Financial (LNC) said Wednesday it received an $825 million strategic growth investment from Bain Capital.

Under the terms of the deal, expected to close in H2, Bain Capital will acquire a 9.9% stake in Lincoln Financial, the company said.

As part of the all-cash agreement, Lincoln will sell about 18.8 million of its common shares for $44 per share, a 25% premium over its 30-day volume-weighted average price as of April 8, the company said.

Lincoln and Bain Capital have also entered a 10-year, non-exclusive strategic investment management relationship, with Bain serving as an investment manager for various asset classes, including private credit, structured assets, mortgage loans and private equity, the company said.