Sojitz Corporation, one of Japan’s leading investment and trading companies, has finalized a binding agreement with Lendlease to acquire Capella Capital. This strategic acquisition positions Capella for significant growth in both the Australian and global infrastructure markets. Capella’s existing management team will remain dedicated to the company, continuing their roles as equity investors alongside Sojitz.
Through this acquisition, Sojitz aims to strengthen its large-scale infrastructure development capabilities in energy, social, and transportation infrastructure sectors, transforming into an integrated business model that manages projects from initial formation to asset management.
Sojitz’s Strategic Move in the Australian Infrastructure Market
Australia is one of the world’s leading markets for infrastructure development through public-private partnerships (PPP). Over the past decade, the country has seen approximately AUD 10 billion annually in new infrastructure projects, spanning across energy, healthcare, and other sectors. With population and economic growth driving demand, the country’s future energy and infrastructure PPP projects are expected to reach a total value of AUD 544 billion.
In particular, New South Wales (NSW), Australia’s most populous state, is witnessing significant investment in the development of Renewable Energy Zones (REZ) and essential electricity transmission infrastructure for distributing renewable energy, such as the Central West Orana PPP Project – a significant transmission line central NSW region.
Suggested Reading: Public Private Partnerships (PPPs): What are they? How they Work?
Strategic Growth and Expansion
Malcolm Macintyre, Managing Director of Capella, shared insights into how this acquisition will fuel the company’s growth. According to Macintyre, the partnership with Sojitz opens up opportunities to target a broader range of infrastructure assets both within Australia and globally.
“Sojitz has a well-established presence in Australia and a strong appetite and capacity to invest domestically and overseas. With Sojitz’s support, Capella will be able to build on our success to date with Lendlease and target a broader range of infrastructure assets,” Macintyre said. He further emphasized the continued collaboration with Lendlease on current and future projects where Lendlease brings critical construction and development expertise.
Transaction Details
The acquisition is subject to regulatory approval and other third-party consents. It involves Capella’s comprehensive infrastructure investment platform, which includes asset origination, asset management, and equity investments in four Public-Private Partnership (PPP) projects.
Since 2009, Capella has successfully secured over $34 billion in projects across various sectors, including transport, social, and energy infrastructure. With a current portfolio that includes over $20 billion in managed assets and third-party equity capital exceeding $1 billion, Capella continues to be a key player in the Australian infrastructure market.
Capella has built a reputation for its exceptional team and strong relationships with government clients, co-investors, contractors, and financiers. Macintyre is particularly proud of Capella’s ability to excel in project development, financial structuring, capital raising, delivery, operations, and asset management.
“The announcement will have minimal impact on day-to-day operations and branding,” Macintyre explained. “For our origination and asset management teams, it’s business as usual. This acquisition will allow us to leverage our talented team to deliver even more city-shaping infrastructure projects both in Australia and overseas.”
Sojitz Corporation’s Commitment to Growth
Takefumi Nishikawa, Chief Operating Officer of Sojitz Corporation’s Energy Solutions & Healthcare Division, expressed Sojitz’s commitment to a long-term partnership. Nishikawa highlighted the goal of expanding Sojitz’s integrated services from project development to asset management, particularly in regions experiencing rapid infrastructure growth, such as the Middle East, Central Asia, Europe, and the United States.
“By acquiring Australia’s leading infrastructure developer, Sojitz seeks to tap into Capella’s award-winning expertise in project development, delivery, and asset management. This acquisition aligns with Sojitz’s strategy to enhance its business foundations and drive growth,” Nishikawa stated.
