diff --git a/compiler/frontend/src/org/jetbrains/kotlin/analyzer/AnalyzerFacade.kt b/compiler/frontend/src/org/jetbrains/kotlin/analyzer/AnalyzerFacade.kt
index 65768611305..96855f599ac 100644
--- a/compiler/frontend/src/org/jetbrains/kotlin/analyzer/AnalyzerFacade.kt
+++ b/compiler/frontend/src/org/jetbrains/kotlin/analyzer/AnalyzerFacade.kt
@@ -206,11 +206,13 @@ abstract class AnalyzerFacade<in P : PlatformAnalysisParameters> {
 
         addFriends()
 
+        val cache = WeakReferenceSLRUCache<M, ResolverForModule>(storageManager)
+
         fun initializeResolverForProject() {
             modules.forEach {
                 module ->
                 val descriptor = resolverForProject.descriptorForModule(module)
-                val computeResolverForModule = storageManager.createLazyValue {
+                val computeResolverForModule = cache.prepareValueComputation(module) {
                     val content = modulesContent(module)
                     createResolverForModule(
                             module, descriptor, projectContext.withModule(descriptor), modulesContent(module),
diff --git a/compiler/frontend/src/org/jetbrains/kotlin/analyzer/WeakReferenceSLRUCache.kt b/compiler/frontend/src/org/jetbrains/kotlin/analyzer/WeakReferenceSLRUCache.kt
new file mode 100644
index 00000000000..27513774513
--- /dev/null
+++ b/compiler/frontend/src/org/jetbrains/kotlin/analyzer/WeakReferenceSLRUCache.kt
@@ -0,0 +1,64 @@
+/*
+ * Copyright 2010-2016 JetBrains s.r.o.
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ * http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+package org.jetbrains.kotlin.analyzer
+
+import com.intellij.util.containers.ContainerUtil
+import com.intellij.util.containers.SLRUMap
+import org.jetbrains.kotlin.storage.StorageManager
+
+class WeakReferenceSLRUCache<in K : Any, V : Any>(private val storageManager: StorageManager) {
+    private val weakValueMap = ContainerUtil.createConcurrentWeakValueMap<K, V>()
+    // Store most recently used values in SLRU cache to make them available even if no other references to them exist
+    private val recentlyUsed = SLRUMap<V, Any>(20, 20)
+
+    fun prepareValueComputation(module: K, computation: () -> V): () -> V = {
+        getOrCompute(module, computation)
+    }
+
+    private fun getOrCompute(module: K, computation: () -> V): V {
+        getFromWeakValueMap(module)?.let {
+            return it
+        }
+
+        return storageManager.compute {
+            getFromWeakValueMap(module)?.let {
+                return@compute it
+            }
+
+            val result = computation()
+            weakValueMap[module] = result
+
+            recentlyUsed.put(result, STUB_OBJECT)
+
+            result
+        }
+    }
+
+    private fun getFromWeakValueMap(module: K) =
+            weakValueMap[module]?.let {
+                recordAccess(it)
+                it
+            }
+
+    private fun recordAccess(resolver: V) {
+        storageManager.compute {
+            recentlyUsed.get(resolver)
+        }
+    }
+}
+
+private val STUB_OBJECT = Any()