Liz has over 14 years' experience of statutory planning experience within the infrastructure and renewable energy sector in Australia. Were a lot happier not only making money but also making a difference. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, CEO/Partner/Co-Founder, Equis Funds Group. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. MELPOMENE: You were well-connected and had the expertise, but was it still a risky move? David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. David Russell One George Street, Singapore 049145 The other guests in the restaurant said they had to pinch themselves. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. David Russell, Equis Managing Director, stated "Jara represents a pivot by Equis into more integrated renewable energy Equis has also secured land rights over an additional 2,000 hectares allowing for an additional 1,000MWAC of large scale solar projects to be constructed over the near term. MELPOMENE: They went silent because you left Macquarie? Cardinal George Pell has kept an ultra-low profile since walking out of Victorias Barwon Prison on April 7 following a High Court decision to overturn his conviction on charges of historical sex abuse. Brighton Grammar old boy David Russell, the billionaire founder of the Singapore-based Equis private equity group, along with wife Elena, bought the mansion for about $20 million in an off-market deal in 2018. Brighton Grammar old boy David Russell, the billionaire founder of the Singapore-based Equis private equity group, along with wife Elena, bought the mansion for about $20 million in an off-market deal in 2018. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. But there are a number of governments that came up with programmes to encourage investments in renewable energy. Photo: Domain. He was far, far from perfect. Russell also chairs Equis Foundation and CSS Foundation, and plans to open a Russian community centre to support disabled and foster children and their parents. DAVID: We have that in our business model by having compensation tied to the performance of the business through carried interest. Bryce Paterson is a legal professional with over 10 years of experience both internationally and domestically in Australia. Vignesh has over 7 years experience in infrastructure investment and development across Asia. Weve surprised the market with our growth, which now outstrips our previous employer, and you start to see a lot of these old relationships coming back. Credit:Jason South. You can only aspire to be like them. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, Climate Change Is Launching a MutantSeed Space Race, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Those who want to work 9 to 5 will be successful in certain types of careers, but what we do here requires a lot of hard work. MELPOMENE: Large corporations are almost inevitably hierarchical. Weve got more than enough to invest in that space, and storage is just going to multiply that demand for capital. Others Named David Russell. The estimated Net Worth of David Eugene Russell is at least $45.3 Million dollars as of 11 November 2021. Where: Developed markets across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. DAVID: When we first set up Equis, foreign investors wanted to talk about China and India, and they werent focused on markets like Thailand and the Philippines. Alberici's new gig is chief strategy government relations and communications officer. Over there, our local guys are empowered to identify and drive growth from bottom up. I also have a responsibility to the company in this respect, and were trying to be more socially orientated now. David Russell Regional Sales Manager NSW/ACT at Dialight APAC - World Leader In Hazardous and Industrial LED Lighting solutions . The combined power and large-scale generation certificates price of the Tailem Bend Solar Project is approximately 40% less than prevailing South Australian market prices, delivering significant savings to South Australian consumers. Bachelor of Laws (Hons)/ Bachelor of Economics (Hons) 1988 - 1993; Skills. Search. But there are a number of governments that came up with programmes to encourage investments in renewable energy. 2023 High Net Worth All rights reserved. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. Its human to fear what you dont understand. Andrew has over 20 years' experience with energy infrastructure projects, specialising in thermal energy project development and construction. David Russell, Equis Group CEO, commented, As Asias largest renewable energy developer and investor, the Tailem Bend Solar Project represents an exciting expansion into Australia for Equis and an unique opportunity to leverage our development and construction expertise to deliver low cost, large scale, reliable renewable energy for Australian consumers., Mr Russell noted, By developing the Tailem Bend Solar Project and Snowy Hydro diesel projects together, the combined system will have the capability of providing stable power any time of the day across the entire year. One of my early mentors said, David, if theres one thing I can teach you about doing business is that whatever you do, you must always act lawfully. And that has always stuck with me. The leafy streets of Brighton are mostly quiet, except at one of the suburbs most famous residences, Melville, the six-bedroom, six-bathroom single-level Middle Crescent mansion. David Russell VZIO stock SEC Form 4 insiders trading That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. As for the finance background, well, youve got to know the numbers when it comes to running a business. Everything comes back to the numbers. MELPOMENE: Have you ever been forced to rethink your life? DAVID: Absolutely. The memoir coming out later this year is expected to dish on a nasty stoush with ABC management after Alberici published an economics comment piece which incensed the Turnbull government so much so it sent several letters of complaint to the ABC. Its interesting how that has come full circle. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. Bibendum arcu vitae elementum curabitur vitae nunc sed velit. MELPOMENE: Do you find that theres a biased perception against the financial industry, particularly after the 2008 financial crisis? Instabilities in the region may give others pause, but we seek opportunities amidst them to keep growing. This website uses cookies to improve your experience. The Tailem Bend Solar Project and Collinsville North Solar Project will: The Tailem Bend Solar Project and Collinsville North Solar Project will be two of Australias lowest cost solar generation projects and will contribute low cost solar power and new jobs into regional communities. 2023 Tatler Asia Limited. In the Philippines, for example, the government budgets ahead so that they can afford power they need. When Skadden partners walk into a room they command that room, and its not because they are aggressive but because they are just so knowledgeable. DAVID: I do. We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. being driven to the Seminary of the Good Shepherd. We think that the biggest renewable energy market is solar and we have to keep ahead of that technology curve. The newspapers report big losses and movies like Too Big to Fail contribute to that negative impression. He studied Law/Economics at Monash University and worked as an energy and utilities lawyer with Skadden, Arps, Slate, Meagher & Flom in Washington and with Minter Ellison in Melbourne. David graduated from their alma mater, Monash University and is currently based in Singapore, Central Singapore. He has previously been Middle East editor of Euromoney, editor of Asiamoney, investment editor of the Australian Financial Review and a correspondent on emerging markets and sovereign wealth for numerous publications worldwide. DAVID: Ive watched a couple and I always cringe [laughs]. While were driving for business success, we formally make a point to give back to the community. Construction of the Collinsville North Solar Project is expected to commence in 2017. Musk Made a Mess at Twitter. Privacy Policy. HSBC Orion tokenizes commercial bank money and sterling bonds, PrivEx brings syndicated loan-trading platform to Europe. You connect it to the building, charge it up, and take it home to generate electricity for your house. Were sorry, this feature is currently unavailable. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. The knock-down rebuild of the rear of the house will feature two linked pavilions and include a dining and kitchen space as well as rumpus room, a master bedroom and gym. In contrast, if you look at Spain, the government gave concessions to the developers but re-regulated when they realised they couldnt afford to buy power. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? We built this business in Asia from the ground up and none of our major investors were brought over from Macquarie. He led Equis development of wind and hydro projects in India. David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. We think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. At one point, Pell who was dressed in what one observer described as "priestly regalia" gave a short speech and toast. Apr 2022 - Present11 months. In the Philippines, Equis commissioned a 30 MW solar project in Leyte and a 54 MW wind project in Rizal, as well as two solar projects in Japans Hiroshima and Hyogo prefectures with total generation capacity of 21.4 MW. I think that helps people remain human in this business. See reunion dates, update your details and give to BGS. DAVID: Years ago, we were just moving paper around. We acknowledge that our school is on the Country of the people of the Kulin Nations. Its not just gratuitous givingwe want to actually improve peoples lives, because we build our plants in a lot of rural areas. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. David Russell, Equis Chairman, said, "As AsiaPacific's largest renewable energy IPP, Equis is pleased to be playing an important role in Taiwan's transition to lowcost, clean energy. They are part of C-Suite Department and their management level is C-Level. Ltd. Hlne Darroze in Conversation With Violet Oon, DPR Construction Used Technology for the Construction of Curtin Singapore Without Physical Meet-Ups, How to Work With Family, and Still Like Each Other, Making Sense of Interest Rates Is Common Sense, Singapore Bond Markets: Sit Back, Lie Flat, Bond Market Thoughts: Sitting Around Waiting to Catch Covid, Union Bank of the Philippines to Issue First Social Bond, Inflation Rule of Thumb Means You Should Not Buy Bonds. But he also told me theres no law stating that you cant act unreasonably [laughs]. He covers the Asia Pacific region and is based in Singapore. Alberici vowed she would never front a TV show again after exiting the ABC. Its important to humble yourself. Once I became nobody, a lot of those people actually went silent. DAVID: I get people coming out of Europe and the U.S. saying that theyre worried about Asian re-regulation risk and governments taking away our assets, but that happens even in Southern Europe. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior Medical Director, Invicro, LLC New Haven, CT MELPOMENE: Was your background crucial to your success? Marsh, a former Macquarie Group executive who joinedEquisin2014, isnt the only partner at the renewablesfundwho has splashed on his real estate dreams in recent months. David Russell, partner and co-founder of Equis comments, "Following a number of significant and successful divestments including the sale of the Equis Energy portfolio to Global Infrastructure Partners, we have identified significant new investment and growth opportunities and Mark's appointment to the partnership will significantly strengthen . He sold Equis Energy, which he founded in 2011, for (US) $5bn in 2017. Greater Newcastle Area. My mentor at that time made a habit of calling me for work even at 1 a.m. And they have a 24-hour turn over, so no matter how late your client meeting ends, you have to finish your work by the next day. He was charming and once flew her to Hong Kong for dinner. China Equities: Yesterdays Story or More Compelling Than Ever? "I understand now how people can love a person who does awful things. David Russell, Equis Chairman, said, "As AsiaPacific's largest renewable energy IPP, Equis is excited about leveraging its economies of scale in the growing Australian market to deliver lowcost renewable energy. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. We wish to honour the connection to Country of all Aboriginal and Torres Strait Islander peoples and pay respect to their Traditional Custodians and Elders past, present and emerging. Were working to restore it. MELPOMENE: Is it important that the work you do creates value for society? Ltd. Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. Its interesting you asked because Im moving house now and while packing I came across my bucket list that I wrote with one of my daughters. We wish to honour the connection to Country of all Aboriginal and Torres Strait Islander peoples and pay respect to their Traditional Custodians and Elders past, present and emerging. Now the four-car basement garage is expanding to fit six, while the basement will accommodate a theatre, rumpus room, wine cellar, arcade room, plus a "modelling/crafts" room. Called the Lady E, it's available to charter for a cool $767,840 a week. Youre always very careful when you speak to people and you disagree politely, rarely do people ever thump the table and storm out like they do in movies. He has held senior roles in energy infrastructure asset owners, developers, and consultancy firms engaged with renewable energy across wind, solar and storage in Australia, Europe, Central America and SE Asia. One of my early mentors said, David, if theres one thing I can teach you about doing business is that whatever you do, you must always act lawfully.. Co-Founder, Managing Director. Thats a real problem with succession planning because you might lose the person you really want to keep because theyre frustrated at the lack of opportunities to grow. Where does the fallout from the Adani crisis take India now? While were driving for business success, we formally make a point to give back to the community. For the guys underneath me, there were only so many senior positions available and it created frustration for those competing for it. Please try again later. We acknowledge that our school is on the Country of the people of the Kulin Nations. David is also . David Russell, Equis Chairman, said, "Equis has plans to invest US$1 billion in Taiwanese renewable energy, and we expect to play a leading role in developing the Taiwanese renewable energy market, to which the government has made a significant commitment. In 1998, David joined Macquarie Group, where he spent 12 years. When I started out of university, my peer group worked really hard and they were more dedicated. In Blacklisting Inspur, US Targets Partner Used by Intel and IBM, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Biden Closes In on Order to Restrict US Investment in China Tech, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. When I stepped out on my own, the thing that surprised me the most was that a lot of my relationships were premised on the basis that I was quite senior at Macquarie. Find out more. Dont Neglect Succession Planning, Manulife Singapore Offers Digital Payments Via PayNow, FWD Insurance Launches Electronic Claims Payments via PayNow, 1-Michelin-Starred Marguerite Shines With an Invigorating Spring Menu. You see people in boardrooms using some of the terms that we do use in the industry, but the portrayal is largely inaccurate. Although what relationship she has with the government given its voracious criticism of her reporting will be interesting. And guess who was right? Singapore, 1 February 2017 Equis Energy (Equis), Asias largest independent renewable energy developer and investor, recently approved the development, construction and operation of two solar projects in South Australia and Queensland, Australia with a total generation capacity of 200MWAC (Projects). "He was sitting in the middle of a long dinner table, and there was no one sitting opposite. Tell-all memoir: Ronni KahnCredit:Illustration: John Shakespeare. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Our purpose is to help current and future generations of Australians and we wont stop until we doso. In the Netherlands, theyve started using solar panels on their bike paths, so in the future you might not need large scale solar panels. DAVID: Yeah, a number of them obviously felt that while our relationship was important, it was based on our work together, so they were more likely to do business with Macquarie than some guy whos just starting out. Marshssplurgefollows the US$5 billion sale of renewable energy firm Equis Energy to US fund Global Infrastructure Partners in January, billed in financial media as the largestrenewable energy generation acquisition in history. Equis, in partnership with the Sinan Municipality, is also establishing a fund through which the local community will invest into the project, enabling residents to benefit from Jara's long-term stable income stream. Copyright 2023 Brighton Grammar School. People start thinking that these are the bad guys, but based on my experience, its not the case. DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. Euromoney, is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730. But to get to a certain point you have to think forward and consider all the paths and possibilities. Roby has over 10 years experience of renewable energy transactions across Asia, completing over AUD$ 675m in deals. As CEO, David has raised and invested seven infrastructure private equity funds comprising over US$5 billion of equity for some of Asia-Pacifics largest independent and institutional infrastructure funds. DAVID: They are expected to chase and secure opportunities, and I review their decisions just to make sure that what we put in place for, say the Philippines, is consistent across our entire business. Equis Development has announced investments into the South Korean waste and solar markets, and the Japanese biomass market. Its a matter of how theyll be utilised. We definitely know a lot of people, but this business was not built on that. MELPOMENE: The project developers dont have the discretion to make decisions locally? We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. MELPOMENE: Steve Jobs said that you can only connect the dots looking backwardsis that true of your experiences? Vincenzo has over 15 years experience with renewable energy infrastructure projects, specialized in solar and BESS project development and construction. Business isnt as aggressive as its been dramatised to be. A good thing, no doubt. Marsh was revealed as the buyer of a knock-down-rebuild in Mosman for $6.88 million, as well as a waterfront in Noosa Heads for about $4 million, also slated for redevelopment. MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? DAVID: Definitely. Separately, development approval has recently been obtained from the Whitsunday Regional Council for a 100MWAC solar project in Collinsville North, Queensland, Australia (Collinsville North Solar Project), to be constructed on land close to the Collinsville North substation. Tel: +65 6220 0040, Legal Notice & Terms of Use MELPOMENE: Has ownership changed your motivation towards work? His thesis and work explore the . Our locally based staff boast a strong understanding of rural and regional Australia. DAVID: If youre intelligent, adaptable, and willing to work hard, you can be very successful without a legal or finance background. The partners, most of them ex-Macquarie bankers, had delivered for their investors, who included some of the biggest institutional names in the world: the University of Texas/Texas A&M Investment Company (Utimco), Partners Group, Willis Towers Watson, BlackRock, JPMorgan Pension, numerous Australian superannuation funds, and others representing the Dutch, German and Malaysian state. We also bought businesses, made them better and sold them off. In addition, Equis has completed a further 33 utility scale renewable energy projects in Asia over the last 3 years or on average 1 project every 5 weeks. Our experience, expertise, proven track record and strong relationships allow us to develop world-class energy assets on time, on budget and to the highest standard. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. MELPOMENE: Do you think that giving people ownership is the way to motivate them? Save 397,400 tonnes of greenhouse gas emissions each year or the equivalent of removing 83,860 passenger vehicles from Australian roads. Entrepreneur, Private Equity Professional, Brighton Grammar School Fees and payments, Senior Managing Director, Head of Asian Private Equity and Head of Greater China, Macquarie, Founding partner of Equis Energy and Equis Funds Group. The Projects will involve a capital investment of approximately A$400 million. He led Equis development of wind and solar projects in the Philippines. "Australia represents one of the most exciting solar power generation markets globally and Equis expects to build over $1 billion of new projects over the next 24-36 months," director David Russell said in the press release. DAVID: They worked hard. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. That deal was a second innings for the spin bowler. David Russell, Equis Funds Group CEO, said, "This year Equis expanded our renewable energy investments in both India and Japan, and added two major projects in the Philippines. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. MELPOMENE: Why did you decide to strike out on your own? David Russell earned his B.F.A. It plans to commit more than US$2billion into renewable energy and waste infrastructure assets across Australia, Japan and South Korea over the next twoyears. They had reason to celebrate. ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. Marshs spending spree only came to light after he settled on his Mosman purchase of a 1940s house on waterfront reserve in Clifton Gardens from the Rosenthal family. An army of builders is carrying out a $5.9 million upgrade at the heritage property, famously owned (not once, but twice) by former Test cricketer Shane Warne. MELPOMENE: Did your legal and finance background help you in this field? MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region?

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