Lendlease is a globally diversified property and infrastructure group with three segments: development, investment management, and construction. Approximately two thirds of earnings are sourced from Australia. The strategic intent is to generate high returns on equity of 10%-14% by increasing the use of third-party capital on major development projects and vertically integrating. The new business model is designed to generate multiple income earnings streams from a single development project. In early 2019, Lendlease decided to exit or sell its Australian engineering and services business. Large losses on legacy projects could see the firm generate little value on a trade sale.