Transaction Opinions

Collaborating with our global colleagues and utilizing our deep M&A industry and capital markets transactional knowledge, we provide independent fairness, solvency and other transaction opinions to a diverse range of clients.

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  • 50+
    transaction opinions in 2023
  • 300+
    total transactions in 2023
  • 950+
    professionals aligned for your success

Objective Financial Advice supported by Deep Industry Expertise

As a part of the broader Valuations & Opinions Group, Lincoln’s fairness and solvency opinions practice provides best-in-class financial advice to GP’s, boards of directors, special committees, investors, trustees and other corporate decision makers on a broad range of transactions.

We differentiate our fairness and solvency opinions services by integrating industry sector and capital markets expertise from our M&A and Capital Advisory groups on every engagement.

Areas of Focus

Fairness Opinions

  • Cross-Fund/Related Party Transactions
    • Capital Raise by Successor Fund
    • Capital Raise with Significant Minority Investor
    • Mergers of Portfolio Companies
    • Debt for Equity Exchanges
    • Backstopped Rights Offerings
  • GP-Led Secondary Recapitalizations
  • Buy- or Sell-Side M&A
  • Going-Private Transactions
  • Recapitalizations (Minority / Majority)
  • Special Situations (i.e. Debt Exchanges)
  • Bond Indenture Affiliate Party Covenants

Solvency Opinions

  • Dividend Recapitalizations (Leveraged or Unleveraged)
  • Stock Buyback / Redemption Transactions
  • Spin-Offs / Split-Offs
  • Corporate Restructurings and Exchange Transactions

Board Advisory & Other Valuation Opinions

  • Commercially Reasonable Debt Opinions
  • Reasonably Equivalent Value Opinions
  • Board Advisory Valuation Opinions

The Lincoln Difference

Lincoln’s fairness and solvency opinions practice, housed in a global investment bank with highly active M&A and Capital Advisory Groups, brings real world experience and deep industry expertise to every one of its transaction opinion engagements.

Firm-wide collaboration with Global Mergers & Acquisitions Investment Banking Advisory, Capital Advisory, and Valuations & Opinions Groups deliver best-in-class, highly defensible opinions.

M&A Advisory

Valuations & Opinions Group

Capital Advisory Group

M&A industry bankers provide the deal team transactional expertise, extensive industry sector expertise and a comprehensive database of closed deals. Valuations bankers provide the deal team exceptional technical capabilities in valuing all types of securities across various valuation methodologies. Capital markets bankers provide the deal team unparalleled market expertise from raising growth equity, arranging debt financing and providing advisory services involving bespoke securities or restructuring transactions to solve capital structure challenges.

Perspectives & Publications

In the Headlines: Q1 2024 Lincoln Private Market Index

Our Valuations & Opinions Group recently shared findings from the Q1 2024 Lincoln Private Market Index with several publications. Bloomberg Buyouts Private Debt Investor The Wall Street Journal

Euromoney | How Worried Should We Be About Private Credit?

Originally published by Euromoney on April 23, 2024. The rapid expansion of the private credit market, outside the purview of banking regulators, might pose a fresh systemic risk. As smaller… Read More

Q1 2024 Lincoln Senior Debt Index

Lincoln International is pleased to release the quarterly Lincoln Senior Debt Index (LSDI). The LSDI represents years of research and analysis of data and was developed by professionals from Lincoln’s… Read More

Lincoln Private Market Index Continued to Climb in the First Quarter on the Back of Steady Earnings Growth

Despite solid portfolio company performance, buyout activity remains sluggish, but sponsors have deployed alternative strategies to distribute capital to investors The Lincoln Private Market Index (LPMI), the only index that… Read More

Meet Our Senior Team with Valuations & Opinions Expertise