Fund managers including Cooper Investors, Oracle Advisory Group, HMC Capital, Allan Gray, Solaris Investment Management, Tamim Funds Management, Pendal Group and First Samuel have invested in Lendlease Group (ASX:LLC).

Fund managers highlight capital recycling, including the Keyton sale at book value, and a share price that HMC Capital believes reflects a 40% discount to asset value, suggesting excessive pessimism. Allan Gray still sees value despite reducing its stake.

Allan Gray points to degrading net tangible assets, and Solaris expects Lendlease to cut its dividend, describing it as a likely dividend trap. HMC Capital noted Lendlease contributed to a near 30% fall in its fund during the quarter.

Lendlease Group is an Australian property and infrastructure company founded in 1957, headquartered in Barangaroo. The firm manages assets across four core segments: Investments, Development, Construction, and Capital Release Unit. The Investments segment manages property interests, while Development focuses on mixed-use, residential, and social infrastructure projects. Construction provides design and project management services for defense, commercial, and residential sectors. The Capital Release Unit encompasses overseas operations, US Military Housing, and residual asset management. Lendlease integrates design, development, construction, and capital management to deliver diverse infrastructure and property projects globally.