Lincoln International Eyes NYSE Debut with IPO Filing

Lincoln International, an investment banking advisory firm based in Chicago, filed on Friday, April 24 for an initial public offering in the United States. The planned listing would be an uncommon public-market debut for an investment bank, according to the filing details described in the announcement.

The company said it intends to list its shares on the New York Stock Exchange under the ticker symbol “LCLN” . Goldman Sachs and Morgan Stanley are serving as joint lead book-running managers for the offering, the company said.

Lincoln International reported financial growth across 2024 and 2025. It posted net income of $214.1 million on revenue of $783.8 million in 2025, compared with net income of $163.6 million on revenue of $578.7 million in 2024, the company reported.

The filing comes as the IPO market has shown renewed activity, which the company linked to easing geopolitical concerns and expectations for faster global dealmaking. In that context, Lincoln International’s move positions it to join a small group of publicly traded boutique investment banks, including Moelis and Houlihan Lokey.

Lincoln International said its work is concentrated in private capital markets. The firm advises buyout firms, private credit investors, and privately held companies, and it focuses on transactions ranging from $250 million to $2 billion .

The company also outlined its footprint and staffing. It has about 1,400 professionals working across more than 30 offices in 14 countries, according to the information provided with the filing.

Lincoln International highlighted recent advisory mandates as examples of its deal activity. These include advising on the $1.95 billion sale of Madison Fire & Rescue to 3M and Bain Capital, and advising on the sale of workplace pension provider Cushon to WTW.

Key details such as the final offering size, pricing terms, and timing beyond the April 24 filing were not provided in the information described. The company’s next steps will depend on the IPO process as it moves toward a potential NYSE debut under the LCLN ticker.

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