Our purpose is to help current and future generations of Australians and we wont stop until we doso. DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. 2023 Tatler Asia Limited. Others Named David Russell. They are part of C-Suite Department and their management level is C-Level. Prior to joining Equis, he was the Head of Trading and Wholesale Markets at Goldwind Australia. Interest is certainly high. We may no longer need to build big cathedral type power facilities and expensive distribution systems. MELPOMENE: Was your background crucial to your success? Ltd. 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. In 2010, David founded Equis Funds Group, Asia-Pacifics largest independent infrastructure private equity manager. 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: You were well-connected and had the expertise, but was it still a risky move? Its important to humble yourself. He was far, far from perfect. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. Over there, our local guys are empowered to identify and drive growth from bottom up. David Russell Full Name: David Charles Russell Company: Equis Pte. Congratulations to the Class of 2020, recording our best ever results. But what were we adding back to society? When we set up Equis, we told ourselves that were actually building stuff for once, everything weve doneweve actually built ourselves and without us, it will all just be flat land. Pell, according to CBD spies, was seated at the middle of a long table, with about a dozen people, and knew some of the guests at smaller tables flanking the high table. What: Equis is focused on the development, construction, ownership and operation of energy, including renewable and hybrid (gas and renewable) systems, bioenergy and waste processing, and waste recovery infrastructure assets. "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. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. Were a lot happier not only making money but also making a difference. Bachelor of Laws (Hons)/ Bachelor of Economics (Hons) 1988 - 1993; Skills. I was hoping that it would be a motivator for everyone, but thats me sitting here thinking about it as a 40-year-old. You can only aspire to be like them. Both plants will also be designed as battery-storage ready further enhancing their long term attractiveness as stable, low cost sources of power, added Mr Russell. And you find that project developers tend to be more risk seeking, so its better to have someone whos more risk averse to balance their decision-making. Everything comes back to the numbers. And thats very important because we now have 84 projects totaling close to 8 billion dollars. I also have a responsibility to the company in this respect, and were trying to be more socially orientated now. David Russell, Equis Chairman, said: "As Asia-Pacific's largest renewable energy IPP, Equis is pleased to be playing an important role in Taiwan's transition to low-cost, clean energy. Did you feel restricted by that? That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. 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. 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. 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. Musk Made a Mess at Twitter. Copyright 2023 Brighton Grammar School. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. These governments need to grow and theyre putting in place very stable regulatory regimes. This is firstly because Ive observed that as people become more autocratic, their decision-making becomes skewed and over time, they start to make costly mistakes, and very quickly theyre gone. 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. She wasnt joking. MELPOMENE: Do you think that giving people ownership is the way to motivate them? I think that helps people remain human in this business. Bibendum arcu vitae elementum curabitur vitae nunc sed velit. David Russell is the founder and CEO of Equis, a company that evolved from its roots as a funds management business to an infrastructure asset development company, Equis Development, in 2019. Ltd. We offer a range of scholarships to give as many boys as possible the chance of a BGS education. Equis' team brings focus, experience, passion and conviction. Prior to joining Equis, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. Its not all hindsight. There is no substitute for hard work. Chris Wright is Asia editor. But most importantly, if you want to be successful, youll have to work hard. 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. ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. Vignesh has over 7 years experience in infrastructure investment and development across Asia. 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 . DAVID: Skydiving! "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. US Jobs Report and Powell Testimony Take Center Stage: Eco Week, Bond Mavens Favor Curve Wagers for Next Encounter With Jobs Data, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate. He also has extensive investment and Mergers and Acquisitions experience in renewable energy across Asia. "It was like the last supper," one onlooker said. 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. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. Mahesh has over 14 years experience in infrastructure and real estate funds management across Asia. DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. MELPOMENE: Skadden has a terrific reputation, how was it like working there? Founding partner and CEO, Equis Development, Equis CEO David Russell is a key player in the Asia Pacific regions renewable energy game. Youre right at the table with them as a trusted advisor. Chief Executive Officer @ Equis; Senior Managing Director @ Macquarie Group; Education. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . Taiwan is at a critical juncture in the development of its energy resources, and the award of the Chiayi solar project, after a very competitive . In 20045, he was Head of Macquaries Principal Transactions Group before becoming a Senior Managing Director, Head of Asian Private Equity and Head of Greater China. Photo: Domain. Alberici starts on Monday. Roby has over 10 years experience of renewable energy transactions across Asia, completing over AUD$ 675m in deals. Andrew has over 20 years' experience with energy infrastructure projects, specialising in thermal energy project development and construction. There are already storage systems that are very profitable, and one of them is pump storage. The esteem that the businesswoman turned social entrepreneur is held in is revealed by the calibre of the blurbs on the cover: ABC journalist Annabel Crabb gets star billing above former governor-general Quentin Bryce, while Crabbs boss, ABC chair Ita Buttrose, has to make do with the back page. 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. 2023 High Net Worth All rights reserved. If theres a physical tussle over the South China Sea, its not going to affect our facilities. Senectus et netus et malesuada fames ac turpis egestas sed. Our locally based staff boast a strong understanding of rural and regional Australia. MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. Were sorry, this feature is currently unavailable. DAVID: As I became more senior in Macquarie, I thought that I was breaking through the politics and creating more autonomy for myself, when in fact I was just extending my network of relations within the organisation. Abigail Koch, Compare the Market general manager public relations, said they had been "smashed" by media requests. 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. Over 22 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Director & Board Member of Denham Capital Asia Pacific. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? They said that if youre willing to build the facility, were willing to buy that power from you at a fixed price for 20 or 25 years, and that gave us a lot of confidence. 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. David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 You connect it to the building, charge it up, and take it home to generate electricity for your house. I had been thinking about it for a number of years and with all my experience, I assumed it would be relatively easy. Its interesting how that has come full circle. We acknowledge that our school is on the Country of the people of the Kulin Nations. People hear about all these guys making so much money and they fear that its because theyre doing something theyre not supposed to be doing. 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. At work, I am direct with people and I encourage them to be the same with me. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. MELPOMENE: Do you ever watch popular films that depict the financial industry? DAVID: Its all relative. The estimated Net Worth of David Eugene Russell is at least $45.3 Million dollars as of 11 November 2021. 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. Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. But he also told me theres no law stating that you cant act unreasonably [laughs]. Its a matter of how theyll be utilised. You cant teach smarts, you either have a certain level of capability or you dont, and you have to be adaptable in this business. Equis is actively pursuing infrastructure development and investment across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. When I interview young people now, I hear more and more of them talk about work-life balancesomething that we never talked about when I was younger. 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. Snowy Hydro has agreed to purchase 100% of the power produced from the Tailem Bend Solar Project for at least 22 years. 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 proceeds of the biggest renewable energy deal in history have helped Equispartner Craig Marshfund a $10 million-plus waterfront property spending spree. DAVID: I am always trying to take on more responsibility or have more control over what Im doing. Equis Energy had a clear strategy of developing and constructing renewable energy generation assets in Asian rural areas, and David mandated that each investment support the health, education and infrastructure of the communities in which each asset was located, changing the lives of thousands of vulnerable parents and children. Several months earlier a consortium led by Global Infrastructure Partners (GIP), with partners including the China Investment Corporation sovereign wealth fund, had agreed to buy the renewable energy asset portfolio of Equis, a Singapore-headquartered independent infrastructure asset manager, for $5 billion. Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. 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. David is also the founder and Chairman of the CSS Foundation, which is focused on supporting vulnerable parents and children in Australia, Russia, and the Philippines. David Russell owns over 45,212 units of Vizio stock worth over $35,578,497 and over the last 2 years David sold VZIO stock worth over $9,742,692. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. 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. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. See our. 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. While were driving for business success, we formally make a point to give back to the community. And guess who was right? 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. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Once I became nobody, a lot of those people actually went silent. Yes, Only if Its Forma. But maybe thats a good thing, you see all these people whose primary focus has been work all their lives and sometimes when a death happens in the family, all of a sudden they stop and go: What am I doing? 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? If you benchmark me against our local project developers, Im risk-averse; but if you benchmark me against a credit guy from a central bank, youll probably view me as risk-seeking [laughs]. Employ over 400 people during the construction phase. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. David is Chairman of the Che Sara Sara Foundation, a not-for-profit that supports vulnerable parents and children in crisis in Russia, Uzbekistan and the Philippines. When the money cleared, the partners of Equis went shopping to celebrate. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. 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. His work has included regulatory advice, project delivery advice, and transactional advice. 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. Like the Mosman house, Marshs purchase on the Noosa waterfront is also expected to be a rebuild, withDA plans for a rebuild already lodged with Noosa Council. 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. We have the saying: You eat what you kill. In India, Equis commissioned four wind projects in Andhra Pradesh, Madhya Pradesh and Gujarat with generation capacity of 206 MW, and a hydro project in Sikkim added another 96 MW of generation capacity. Tel: +65 6220 0040, Legal Notice & Terms of Use Empower. David Russell Investments, Australia & New Zealand Equis since 2010 Over 28 years of Asia-Pacific infrastructure investment and advisory experience, having raised and invested over US$5bn of equity for Asian private equity His thesis and work explore the . In 1998, David joined Macquarie Group, where he spent 12 years. We think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. Asia-Pacific-focused renewables designer Equis Development Pte Ltd has actually taken control of an AUD-1.9-billion (USD 1.28 bn/EUR 1.23 bn) battery energy storage space project near Melbourne, Victoria, and is now relaunching it with a new name as well as increased capacity. 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. Head of Acquisitions, Macquarie Korea Infrastructure Fund (KOSPI), Bachelor of Commerce, LL.B, Canterbury University, NZ, Over 28 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Macquarie Senior Managing Director & Head of Infrastructure Advisory for Korea and North Asia, Bachelor of Arts (Hons), Major in Business Economics, UC Santa Barbara, MBA, Sloan School of Business, MIT, Investments, Australia & New Zealand Equis since 2010, Over 28 years of Asia-Pacific infrastructure investment and advisory experience, having raised and invested over US$5bn of equity for Asian private equity, Former Macquarie Senior Managing Director & Head of Greater China & Asian Private Equity, Utilities lawyer, Skadden Arps (Washington DC) & Minter Ellison (Melbourne), Bachelor of Economics (Hons), LL.B (Hons), Monash University, Over 25 years of infrastructure investment experience, with 19 years in Australia, Bachelor of Commerce (Hons), Bachelor of Laws (LLB), Deakin University, Advanced Management Program, Harvard Business School, Over 17 years of Asian private equity and infrastructure investment experience, Former Macquarie Vice President & Head of Acquisitions MENA (Abu Dhabi), MKIF investment team (Korea), Bachelor of Economics, Seoul National University, 1 George Street #23-03 We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. in Public Practice from Otis College of Art and Design in 2011. 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. MELPOMENE: How has it been different at Equis? MELPOMENE: Did your legal and finance background help you in this field? She managed a renewable energy portfolio of over 625MW in Australia, sat on the board of Avertas Waste to Energy as well as managed transport and social infrastructure projects. 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. Will Others Follow? Snowy Hydro is a leading integrated energy business in Australia which currently owns and operates 5,500MW of generation capacity across Australia, including the iconic 4,100MW Snowy Hydro-electric Scheme. So guests at Sydneys Alfredo restaurant at Circular Quay did a double take when they walked into the harbourside institution and spotted the Cardinal on Wednesday evening. In MinterEllison, you tend to work more with the general counsel but at Skadden, youre working directly with the CEO and CFOs. Not the David Russell you were looking for? In October 2017, Equis sold Equis Energy to a Global Infrastructure Partners led consortium for US$5 billion, the largest renewable energy transaction in history at the time. The firm focuses on the development, construction, ownership and operation of energy, including renewable and hybrid (gas and renewable) systems, bioenergy and waste processing, and waste recovery infrastructure, across Asia Pacific. 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. Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. Brighton Grammar old boy puts new $5.9m spin on Shane Warne's former pad. We acknowledge that our school is on the Country of the people of the Kulin Nations. 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. "I understand now how people can love a person who does awful things. 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. Modest Rally in Asian Equities Expected as Regional Economies Remain Supportive and Valuations Reasonable, Dubai-Based Real Estate Developer Omniyat Launches Ultra-Luxury Beachfront Residences, Singapore Buyers Show Strong Interest in Mixed-Use Development in Londons Vauxhall, This Residential Tower in Dubai Features Interiors by Pagani, What to Expect at the Newly Reopened I12 Katong Retail Mall, Are You a HNWI? Where does the fallout from the Adani crisis take India now? We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. Construction of the Collinsville North Solar Project is expected to commence in 2017. David Russell. So by removing the glass ceiling, we dont lose our senior people as we grow. While were driving for business success, we formally make a point to give back to the community. Mr Russell, the co-founder of Equis an offshore private equity group, has slapped a caveat on Shane Warne's Melbourne mansion in a deal worth close to $20m and is believed to be readying to fork out a further $22m for a Noosa beachfront home in what is a record price for the Queensland holiday region.
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