RADNOR, PA — Lincoln Financial Group (NYSE: LNC) announced the launch of its Lincoln Partners Group Royalty Fund, developed in collaboration with Partners Group, one of the world’s largest private markets firms. The fund is the first cross-sector private markets royalties evergreen fund available to individual investors in the United States.
The strategy will invest in royalties across multiple industries, including pharmaceuticals, music, media and entertainment, and energy transition. Investments will take the form of existing royalty purchases, the creation of new royalties, and lending against royalties. Partners Group has been an active participant in the space, completing 15 royalty transactions in the past 12 months.
“To further Lincoln’s commitment to providing financial protection and security for our customers and their families, we are collaborating with Partners Group, a leading global private markets firm, to deliver a distinctive private markets strategy centered on royalties,” said Ellen Cooper, chairman, president, and CEO of Lincoln Financial. She emphasized that combining Partners Group’s sector expertise with Lincoln’s distribution network enables financial professionals to offer differentiated solutions aimed at long-term security.
Partners Group executives highlighted the benefits of the evergreen fund structure, typically used by institutional investors. “The evergreen structure has several benefits for investors such as providing access to a fully funded portfolio across multiple positions with no capital calls,” said Adam Howarth, partner and co-head of portfolio management at Partners Group. “Our royalties strategy covers numerous sectors and transaction types, offering attractive income potential and true diversification.”
Stephen Otter, head of private markets royalties at Partners Group, added that royalties are gaining attention in the current environment. “The asset class acts as a portfolio diversifier, bridging the benefits of private equity and private credit investments, that can provide stable and attractive yields with an embedded inflation hedge and low correlation to other markets,” Otter said.
Lincoln Financial will distribute the fund through Lincoln Financial Distributors, its wholesale distribution organization. The company’s multi-manager platform provides access to a broad network of financial partners and fund structure expertise while leveraging its national distribution channels.
Lincoln and Partners Group first announced their strategic partnership in March 2025. With the formal launch of the Royalty Fund, both companies plan to begin marketing and educational efforts directed at individual investors and financial professionals.
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