Lincoln International aims for an initial public offering, a rare move for an investment bank, on the American markets

Lincoln International filed an initial public offering (IPO) in the United States on Friday, paving the way for a rare stock market operation for an investment bank. The IPO market has picked up in recent days, with several major offerings being listed after a brief lull in March amid easing fears of prolonged conflict in the Middle East.

According to Reuters Josef Schuster, general director of IPOX, the IPO activity in the United States has not been affected by geopolitical uncertainties. This highlights the potential of the IPO asset class for investors and service providers.

Founded in 1996 by Jim Lawson and Rob Barr, Lincoln International is a Chicago-based investment banking advisory firm specializing in private capital markets. The firm reported a net income of $214.1 million on revenues of $783.8 million in 2025, compared to $163.6 million in net income on revenues of $578.7 million the previous year.

If successful, Lincoln International’s listing would position the company alongside niche investment banks like Moelis and Houlihan Lokey, which have been public since 2010. The IPO is expected to involve the sale of shares by Lincoln International and some of its shareholders.

The global transaction value has rebounded in recent weeks following a sharp decline at the start of the Iran war, as corporate boards disregard volatility and continue large-scale transactions. Wall Street leaders anticipate continued M&A consulting activity in 2026, supported by monetary easing, investments in artificial intelligence, and a more balanced regulatory environment in the United States.

Lincoln International focuses on private market transactions ranging from $250 million to $2 billion in the M&A advisory field. The firm has previously advised on notable deals such as the sale of Madison Fire & Rescue to 3M and Bain Capital for $1.95 billion earlier this year.

As of the end of 2025, Lincoln International had approximately 1,400 professionals, including 161 managing directors, in over 30 offices across 14 countries. In October, the firm completed the acquisition of MarshBerry, a consultancy serving the insurance brokerage, insurance distribution, and wealth management sectors for over 40 years.

Goldman Sachs and Morgan Stanley are the joint leaders of the IPO, and Lincoln International will be listed on the New York Stock Exchange under the symbol “LCLN”.