Lincoln International aims for an IPO, a rare move for an investment bank, on the US markets

Lincoln International filed for an IPO in the US, marking a rare move for an investment bank. Recent days have seen increased IPO activity with fears of prolonged conflict in the Middle East easing. This highlights the potential for IPO assets for investors and service providers, according to Josef Schuster of Reuters.

The Chicago-based company reported a net income of $214.1 million on revenue of $783.8 million in 2025, up from $163.6 million on revenue of $578.7 million the previous year. This would position Lincoln International alongside niche investment banks like Moelis and Houlihan Lokey that have been listed on the New York Stock Exchange since 2010.

Founded in 1996, Lincoln International is an investment banking advisory firm specializing in private capital markets. The company sees strong demand for US-based operations in specialized sectors, expecting a positive impact on its IPO.

Shares from Lincoln International and some of its shareholders will be sold as part of this offering. Global transaction values have rebounded in recent weeks after a sharp decline following the start of the war in Iran.

Wall Street leaders anticipate continued M&A advisory activity in 2026, aided by monetary easing, AI investments, and a more balanced regulatory environment in the US. Lincoln International focuses on private market transactions ranging from $250 million to $2 billion in the M&A advisory sector.

The company has advised on various high-profile deals, including advising Madison Industries in the sale of Madison Fire & Rescue to 3M and Bain Capital for $1.95 billion earlier this year.

In late 2025, Lincoln International had approximately 1,400 professionals, including 161 managing directors, across more than 30 offices in 14 countries. They recently acquired MarshBerry, a consultancy serving the insurance brokerage, distribution, and wealth management sectors for over 40 years.

Goldman Sachs and Morgan Stanley are serving as joint bookrunners for the IPO, with Lincoln International set to be listed on the New York Stock Exchange under the symbol “LCLN”.