HMC Capital boosted its stake in struggling Lendlease Group (ASX:LLC) to over 5% ahead of an upcoming investor meeting.
Lendlease, facing a 50% drop in shares over five years, is pressured by investors to cut costs and exit international construction ventures.
HMC Capital's move follows a divestment from another holding, Sigma Healthcare (ASX:SIG).
Lendlease, valued at $4.4 billion, faces calls for asset sales and expense reductions. Investment banks are advising Lendlease on potential structural changes.
In 2023, Lendlease cut costs by $320 million, shed 700 jobs, and sold off assets, including its US military housing stake and master planned communities business to Stockland (ASX:SGP).