- Bain Capital Total Credit Fund
- Partners Group Royalty Fund
Waived management fee in effect through July 31, 20263
See the Lincoln Bain Capital Fund fact sheet for more information. Complete information about fees and expenses.
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Lincoln Bain Capital Total Credit Fund A private credit fund focused on core middle market businesses, offered in a perpetual, interval fund structure — providing investors access to a dynamic strategy that allocates across direct lending, asset-based finance, opportunistic credit and liquid credit as market conditions evolve, with the goal of maximizing potential returns and managing risk.
Lincoln Bain Capital Total Credit Strategy Overview
Lincoln Bain Capital Total Credit fact sheet
Private Credit: A Primer -
Private credit investments can potentially benefit a portfolio in four distinct ways:
• Potentially higher returns — Private credit can often pay more than regular bonds or government securities because you’re being compensated for less liquidity
• Protection against interest rate fluctuations — Many private credit investments have floating interest rates, meaning returns can go up when interest rates rise. This is different from traditional asset classes, which typically lose value when rates increase
• Diversification beyond public markets — Private credit simply gives you more access to the investments universe. You can invest in unique business loans, asset-backed securities or specialized lending opportunities — helping spread out risk
• Possible downside protection — Many private loans are secured by real assets (like equipment, real estate, or inventory). If a borrower can’t pay back the loan, these assets can help recover your investment — something you don’t get with many other investment types
Reduced management fee in effect through July 31, 20262
See the Lincoln Partners Group Royalty Fund fact sheet for more information. Complete information about fees and expenses.
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Lincoln Partners Group Royalty Fund The first multi-sector royalties registered fund in the U.S., offering a diversified royalties strategy in the U.S., in a perpetual, tender offer fund structure. The fund provides investors access to royalty streams across multiple sectors, with the goal of generating high risk-adjusted returns across various market cycles by targeting stable, uncorrelated cash flows and growth potential.
Lincoln Partners Group Royalty Fund Strategy Overview
Lincoln Partners Group Royalty Fund Fact Sheet
Royalties: A Primer -
Investing in royalties taps into the fundamental and consistent ways in which Americans consume resources. Some of the key advantages of royalties include:
• Attractive market opportunity — Royalties are a growing asset class with an estimated $2 trillion market size1
• Low correlation — Can help to stabilize and diversify traditional asset class portfolios
• Recurring income — Regular stream of royalty payments with the potential to mitigate risk and hedge against inflation
Partners Group has a differentiated, dedicated royalties team with the expertise and mandate to invest across the royalties universe, including pharmaceuticals, music, media, sports/brands and energy transition.
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Talk with your Lincoln representative or call us: 844-283-8637
1End-of-period account balances, net of reinsurance, includes Annuities, Life Insurance and Retirement Plan Services.
Key Facts
2Management Fee. The Management Fee paid by Lincoln Partners Group Royalty Fund (the “Fund”) is measured as of the end of each month at the annual rate of 1.25% of the greater of (i) the Fund’s NAV (i.e., net of fund leverage) and (ii) the Fund’s NAV less cash and cash equivalents plus the total of all commitments made by the Fund that have not yet been drawn for investment. Effective February 1, 2026 through July 31, 2026, Lincoln Financial Investments Corporation, the Fund’s investment adviser (the “Adviser”), has agreed to waive fifty percent of the Management Fee. The Management Fee waiver will be applied after application of the Expense Limitation Agreement between the Fund and the Adviser (the “Expense Limitation Agreement”), as described below. The Adviser retains the right to recoup any Management Fees waived by it within three years of the Management Fee waiver, subject to certain conditions. The Management Fee waiver will not impact the Incentive Fee payable by the Fund.
3Management Fee. The Management Fee paid by the Fund is calculated at the annual rate of 1.00% of the Fund’s gross assets, which includes assets purchased with borrowed money. Effective February 1, 2026 through July 31, 2026, Lincoln Financial Investments Corporation, the Fund’s investment adviser (the “Adviser”), has agreed to waive the Management Fee in its entirety. The Management Fee waiver will be applied after application of the Expense Limitation Agreement between the Fund and the Adviser (the “Expense Limitation Agreement”), as described below. The Adviser retains the right to recoup any Management Fees waived by it within three years of the Management Fee waiver, subject to certain conditions. The Management Fee waiver will not impact the Incentive Fee payable by the Fund.
Investing in private market funds involves risks, including the risk that an investor may receive little or no return on their investment or that an investor may lose part or all of their investment. Material risks associated with investing in private market funds include, but are not limited to, risks related to: limited liquidity, which will limit investors’ ability to sell all of their shares when desired, or at all; changes in interest rates; the credit risk of the counterparties with which the funds’ deal; the valuation of the funds’ investments; the use of leverage, which magnifies the potential for gain or loss on amounts invested; the specific investments and strategies the funds’ pursue, including unique risks applicable to complex investment strategies, collateralized loan obligations and other derivatives investments, and investments in distressed companies, real assets, real estate, royalties, non-U.S. securities, senior secured loans, and below investment grade instruments (also known as “high-yield” securities or “junk bonds”); concentration of investments in particular industries or sectors; the lack of public information about the private investments held by the funds; the lack of liquidity or a trading market for the funds’ private investments, which may impede the funds’ investment adviser from buying or selling securities at opportune times or at favorable prices; and general market, economic, and political conditions. Accordingly, private market funds should be considered speculative investments that entail substantial risks, and investors should invest in private market funds only if they can sustain a complete loss of their investment. Diversification does not ensure a profit or protect against loss. Past performance is not indicative of future results.
Investors are advised to consider the investment objectives, risks, and charges and expenses of any fund sponsored by Lincoln Financial carefully before investing. Each fund's prospectus contains this and other information about the fund. Investors may obtain a copy of any fund's prospectus by visiting https://connect.rightprospectus.com/LFG?site=CEF. Investors should read and carefully consider all information in the applicable fund's prospectus and other reports filed with the U.S. Securities and Exchange Commission (the "SEC") before investing.
Lincoln Financial Investments Corporation, the investment adviser to funds sponsored by Lincoln Financial, is a subsidiary of The Lincoln National Life Insurance Company and an SEC-registered investment adviser.
Funds sponsored by Lincoln Financial are distributed by Lincoln Financials’ affiliated broker-dealer, Lincoln Financial Distributors, Inc. (130 N. Radnor-Chester Rd., Radnor, PA 19087). There is no additional tax-deferral benefit for contracts purchased in an IRA or other tax-qualified plan, since they are already afforded tax-deferred status.