Lincoln International filed for an initial public offering (IPO) in the United States on Friday, paving the way for a rare stock market move for an investment bank.
The IPO market has been active in recent days, with fears of prolonged conflict in the Middle East subsiding. Several major IPOs have been listed after a brief calm in March.
Josef Schuster, CEO of IPOX, stated that the IPO market in the U.S. has not been affected by geopolitical uncertainties, highlighting the potential of IPOs for investors and service providers.
Founded in 1996 by Jim Lawson and Rob Barr, Lincoln International is a Chicago-based investment bank specializing in private capital markets, providing advice to merger companies, private credit investors, and non-public companies.
The IPO will position Lincoln International among niche investment banks like Moelis and Houlihan Lokey, which have been listed on the New York Stock Exchange since 2010.
The IPO will see Lincoln International and some of its shareholders selling shares as part of the offering.
Global transaction value has rebounded in recent weeks following a sharp decline due to the start of the Iran war, with boardrooms ignoring volatility and pursuing large transactions.
Wall Street executives expect M&A activity to continue to accelerate in 2026, supported by monetary easing, investments in artificial intelligence, and a more balanced regulatory regime in the U.S.
Lincoln International focuses on private market transactions ranging from $250 million to $2 billion in the M&A advisory sector.
The company had around 1,400 professionals by the end of 2025, with offices in over 30 locations across 14 countries.
In October, Lincoln International completed the acquisition of MarshBerry, a consulting firm serving the insurance brokerage, insurance distribution, and wealth management sectors for over 40 years.
Goldman Sachs and Morgan Stanley are the joint bookrunners for the IPO.
Lincoln International will be listed on the New York Stock Exchange under the symbol “LCLN”.
