** Insurer Lincoln Financial's LNC.N shares jump 9% to $31.56 premarket

** Investment firm Bain Capital will acquire 9.9% stake in LNC for about $825 million, the insurer announces

** Bain will also become LNC's investment manager across asset classes including private credit

** LNC will sell about 18.8 million shares at $44 apiece, a 52% upside to stock's last close

** Bain has agreed to some limitations and restrictions on its ability to divest the stake

** Transaction, expected to close in second half of 2025, provides LNC with capital to grow its earnings and boost its portfolio management efforts

** Goldman Sachs was the financial adviser to LNC, while Sumitomo Mitsui Banking Corporation was the structuring adviser to Bain

** As of last close, LNC stock down 8.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))