** Insurer Lincoln Financial's LNC.N shares jump 9% to $31.56 premarket
** Investment firm Bain Capital will acquire 9.9% stake in LNC for about $825 million, the insurer announces
** Bain will also become LNC's investment manager across asset classes including private credit
** LNC will sell about 18.8 million shares at $44 apiece, a 52% upside to stock's last close
** Bain has agreed to some limitations and restrictions on its ability to divest the stake
** Transaction, expected to close in second half of 2025, provides LNC with capital to grow its earnings and boost its portfolio management efforts
** Goldman Sachs was the financial adviser to LNC, while Sumitomo Mitsui Banking Corporation was the structuring adviser to Bain
** As of last close, LNC stock down 8.7% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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