Lambda expressions are to closures as `new' expressions are to instances: a lambda expression evaluates to a closure, and a `new' expression evaluates to an instance. Since any expression can be evaluated multiple times, in general the relationship is one-to-many: a lambda expression can be evaluated N times to produce N closures, just as a `new' expression can be evaluated N times to produce N instances.
(Instances and closures are closely related: an instance is a piece of state with several operations that can be invoked on it, while a closure is a piece of state with one operation that can be invoked on it.)