Lendlease has announced a binding agreement with Sojitz Corporation, for the sale of Capella Capital for a consideration of AU$ 235 million (US$ 145.7 million).

The sale is expected to generate around AU$70 million (US$ 43.4 million) in Operating Profit after Tax (OPAT) for FY25 and marks another step in streamlining the Group while also lowering future funding needs. Founded in 2009 as a partnership between Lendlease and senior Capella management, Capella Capital has developed into a prominent infrastructure investor in Australia. As part of the agreement, Sojitz will acquire Lendlease’s stake in Capella’s infrastructure platform, which includes asset origination, asset management, and principal equity investments. Approximately 80 Capella employees will transition to Sojitz as part of the sale.

Lendlease and Capella will maintain their collaboration to successfully deliver ongoing projects, with no anticipated disruptions resulting from the sale. Following the transaction's completion, Lendlease and Capella have agreed to continue working together on both existing and future Capella projects where Lendlease's expertise—such as construction or development services—is relevant. Additionally, Lendlease has entered into a limited transitional services agreement with Sojitz to facilitate a seamless ownership transfer and uphold strong client relationships.