She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. I was hoping that it would be a motivator for everyone, but thats me sitting here thinking about it as a 40-year-old. Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. There is no substitute for hard work. 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. In 2010, David founded Equis Funds Group, Asia-Pacifics largest independent infrastructure private equity manager. We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. Find contact details for 700 million professionals. 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. And while the neighbours wont notice much of a difference from the historic frontage, it is clear where the vast outlay is going. Those inside the restaurant overheard the dinner was held to mark his release from jail. 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. I use a decision tree in that process and find that if you have the ability and willingness to think through the entire tree, you can map out where youre heading with a fair degree of certainty. These governments need to grow and theyre putting in place very stable regulatory regimes. DAVID: Its all relative. At Equis, our team is driven by the opportunity to sustainably transform Australias energy landscape together and leave a positive legacy for future generations. It was during that painful life phase that Kahn had an idea: taking beautiful food left over from her events business and using it to feed people in need. David Russell, Equis Chairman, said, "Equis has plans to invest US$1 billion in Taiwanese renewable energy, and we expect to play a leading role in developing the Taiwanese renewable energy market, to which the government has made a significant commitment. Roby has over 10 years experience of renewable energy transactions across Asia, completing over AUD$ 675m in deals. On Thursday, CBDs local operative spotted no fewer than seven utes, four vans and a truck surrounding the site. Did you feel restricted by that? After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. California Weighs $360,000 in Reparations to Eligible Black Residents. Russell received his M.F.A. Yes, Only if Its Forma. Daniel LeeGroup Head, Corporate CommunicationsDaniel.lee@venaenergy.com, Juwon ChaeGroup Head, Sustainability and Investor RelationsIR@venaenergy.com. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? The other guests in the restaurant said they had to pinch themselves. CRICOS Provider Code: 00132K. The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. 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. MELPOMENE: Did your legal and finance background help you in this field? See our. 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. Ltd. We think that the biggest renewable energy market is solar and we have to keep ahead of that technology curve. Alberici starts on Monday. Shane Warne sold the Brighton mansion for about $20m in 2018. I dont think solar and wind per se will be obsolete, theyll always be utilised because theyre efficient and environment friendly. Its not just gratuitous giving. When we set up Equis, we told ourselves that were actually building stuff for once, everything weve doneweve actually built ourselves and without us, it will all just be flat land. MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. As Asia's largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the world's fastestgrowing renewable energy market Once I became nobody, a lot of those people actually went silent. The strategy of remaining quiet has worked well, but its now time to engage. 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. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. 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But the reality is that our investments have never been touched by any of these political instabilities and I think thats a credit to the regulatory regimes. 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. 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 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. 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. 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. 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. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. He also has extensive investment and Mergers and Acquisitions experience in renewable energy across Asia. A good thing, no doubt. Credit:Jason South. The end point comes when Anton is in hospital overnight and another woman turns up by his bedside "with eyes only for Anton". DAVID: Absolutely. Its human to fear what you dont understand. Building firm Davies Henderson, architect Christopher Doyle, gardening designer Paul Bangay and interior architect Thomas Hamel dont come cheap. MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? Weve got more than enough to invest in that space, and storage is just going to multiply that demand for capital. Co-Founder, Managing Director. 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. Monash University. Secondly, hierarchical environments create ceilings and politics. Apr 2022 - Present11 months. We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. We may no longer need to build big cathedral type power facilities and expensive distribution systems. Once I became nobody, a lot of those people actually went silenta number of them obviously felt that while our relationship was important, it was based on our work together. 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. MELPOMENE: Is it important that the work you do creates value for society? I like to think that I dont have a fear of heights, but the idea of jumping out of a plane and not knowing for sure if the parachute is going to work can be intimidating. We're sure the builders are observing strict social distancing protocols during stage four lockdown. The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. 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. You connect it to the building, charge it up, and take it home to generate electricity for your house. At work, I am direct with people and I encourage them to be the same with me. DAVID: We have that in our business model by having compensation tied to the performance of the business through carried interest. MELPOMENE: Why did you decide to target Asian markets? Equis is actively pursuing infrastructure development and investment across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. As Asias largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the worlds fastestgrowing renewable energy market., Daniel LeeGroup Head, Corporate CommunicationsDaniel.lee@venaenergy.com, Juwon ChaeGroup Head, Sustainability and Investor RelationsIR@venaenergy.com. David Russell Regional Sales Manager NSW/ACT at Dialight APAC - World Leader In Hazardous and Industrial LED Lighting solutions . 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. Ltd. Were a lot happier not only making money but also making a difference. When I started out of university, my peer group worked really hard and they were more dedicated. 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. The pieces, which covered the strategies big businesses used to trim their tax burden, ended up being rewritten and republished. 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. Prior to joining Equis, Andrew held senior roles at WorleyParsons and Toshiba. Greater Newcastle Area. 2023 High Net Worth All rights reserved. David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. Does Joo Chiat Need Another Italian Joint? Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. When I left my previous employer, I didnt realize how risky it actually was. Privacy Policy. 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. EY Entrepreneur of the Year (Ernst & Young Singapore), Senior Alumni Award (National University of Singapore School of Business). David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. People say that Asia is developing, but their frameworks are far more developed than those in Europe. In 2005-2010, based in Seoul and Hong Kong, David established three infrastructure private equity funds, including one of the first and largest South Korean private funds. DAVID: If youre intelligent, adaptable, and willing to work hard, you can be very successful without a legal or finance background. But to get to a certain point you have to think forward and consider all the paths and possibilities. Where: Developed markets across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. DAVID: They worked hard. David Russell who has made his fortune as the cofounder of Singapore-based private equity group Equis has been spending time aboard the impressive vessel with his family. 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. 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 is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. Craig Marsh settled upon a black McLaren with carbon-fibre trims. Save 407.2 million litres of water each year (when compared with the water usage of coal fired power plants). 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. MELPOMENE: Do you ever watch popular films that depict the financial industry? Our purpose is to help current and future generations of Australians and we wont stop until we doso. We acknowledge that our school is on the Country of the people of the Kulin Nations. Bibendum arcu vitae elementum curabitur vitae nunc sed velit. Where does the fallout from the Adani crisis take India now? We think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. Over 22 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Director & Board Member of Denham Capital Asia Pacific. David is also . Copyright 2023 Brighton Grammar School. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Although what relationship she has with the government given its voracious criticism of her reporting will be interesting. 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. But even if we were to assume no change in battery technology, over the next 4 or 5 years, we need another $1.1 trillion just for the renewable energy space in Asia. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. Equis has signed a Power Purchase Agreement (PPA) with Snowy Hydro Limited (Snowy Hydro) for a 100MWAC solar project located near Tailem Bend, South Australia (Tailem Bend Solar Project), which will be constructed alongside a Snowy Hydro owned 28.8MWAC diesel-fired power station. in Painting/ Art History from the University of Tulsa. We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. DAVID: Skydiving! Vignesh has over 7 years experience in infrastructure investment and development across Asia. 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. Its not just gratuitous givingwe want to actually improve peoples lives, because we build our plants in a lot of rural areas. 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. DAVID: I do, and sometimes you cant avoid people feeling intimidated but you have to continually try to break that barrier down. The Company was formed in 2019 through the restructure of the Equis business model from a funds management business to an infrastructure asset development company. But what were we adding back to society? They are part of C-Suite Department and their management level is C-Level. Singapore, 27 March, 2017 In 2015, Equis, Asias largest independent renewable energy investor, commissioned nine (9) solar, wind and hydro projects in India, Japan and the Philippines, with a total generation capacity of 407.4 MW. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. But obviously within large institutions like Macquarie, there are limits to how much an individual can influence the direction of the business. Ed has managed $13b of electricity regulated and commercial assets as GM for AusNets Transmission and Distribution networks. The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Founding partner and chief executive David Russell has reportedly paid close to $20 million for the Melbourne estate in Brighton of cricket legend Shane Warne, and added a Noosa getaway of his own when he paid $18 million for the Sunshine Beach house of IT entrepreneur Danny Wallis. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. He led Equis development of wind and hydro projects in India. David Russell, Equis Managing Director, stated "Jara represents a pivot by Equis into more integrated renewable energy being driven to the Seminary of the Good Shepherd. 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. Construction of the Tailem Bend Solar Project is expected to commence in early 2017. He sold Equis Energy, which he founded in 2011, for (US) $5bn in 2017. DAVID: When we first set up Equis, foreign investors wanted to talk about China and India, and they weren't focused on markets like Thailand and the Philippines. It could become micro power grid systems where power is generated and distributed locally. In 1998, David joined Macquarie Group, where he spent 12 years. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 So while I was growing and being mentored, I had that slight frustration. Some $1.3 billion of that was assumed liabilities, but still, it was a landmark: $3.7 billion of equity, the vast majority of it in unrestricted cash. 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 . Prior to joining Equis, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. Tel: +65 6220 0040, Legal Notice & Terms of Use He was charming and once flew her to Hong Kong for dinner. We built this business in Asia from the ground up and none of our major investors were brought over from Macquarie. By submitting this form, I agree to these terms and conditions. Euromoney, is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730. Andrew has over 20 years' experience with energy infrastructure projects, specialising in thermal energy project development and construction. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior Medical Director, Invicro, LLC New Haven, CT DAVID: Thats the million-dollar question. 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]. 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). 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. Its interesting how that has come full circle. Bryce Paterson is a legal professional with over 10 years of experience both internationally and domestically in Australia. Consequat id porta nibh. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. 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 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. We also bought businesses, made them better and sold them off. Will Others Follow? David Russell, Equis Group CEO, commented, "As Asia's 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 . In the Philippines, for example, the government budgets ahead so that they can afford power they need. Photo: Domain. David Russell Musk Made a Mess at Twitter. While were driving for business success, we formally make a point to give back to the community. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. Alberici's new gig is chief strategy government relations and communications officer. We felt that we deserved to be paid well because we were certainly working hard. 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. 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. Prior to joining Equis, Liz held planning and permitting roles at Goldwind. Our locally based staff boast a strong understanding of rural and regional Australia. Its a matter of how theyll be utilised. One George Street, Singapore 049145 That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. MELPOMENE: Do you think that giving people ownership is the way to motivate them? He is the current Head of Legal for Equis in Australia and is responsible for all legal matters internally and associated with projects. David Russell works as a Chief Executive Officer & Partner at Equis, which is a Finance company with an estimated 83 employees. DAVID: I am always trying to take on more responsibility or have more control over what Im doing. MELPOMENE: Large corporations are almost inevitably hierarchical. DAVID: Definitely. 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. Hartford, Connecticut, United States. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. Apparently Pell was flanked by a number of priests. Youre right at the table with them as a trusted advisor. DAVID: Yes, and theyve gone down a certain path that they may not even be aware of until they eventually just take it too far in trying to make money. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. It works better for senior management, while the junior staff is more interested in salary and annual bonuses rather than something that could be paid out 5 or 10 years later. They had reason to celebrate. DAVID: I do. DAVID: Theres an element of that. 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. DAVID: Ive watched a couple and I always cringe [laughs]. 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. When the money cleared, the partners of Equis went shopping to celebrate. And guess who was right? Emma Alberici has landed a new gig, and, as promised, it's not on TV. "I understand now how people can love a person who does awful things. Warne and former wife Simone Callahan made a $5m profit on the home after buying it in 2000 and selling it seven years later. Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. Congratulations to the Class of 2020, recording our best ever results. David Russell. For the guys underneath me, there were only so many senior positions available and it created frustration for those competing for it. Please try again later. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. We definitely know a lot of people, but this business was not built on that. All rights reserved. Alberici vowed she would never front a TV show again after exiting the ABC. MELPOMENE: Have you ever been forced to rethink your life? Celebrity food writer Melissa Leong and chef Kylie Kwong are relegated to the inside cover, alongside Jimmy Barnes. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . Thomas has over 20 years experience working in a range of business development and energy trading roles. Damian has 23 years of infrastructure investment experience, with over 17 years experience in Asia Pacific, and has completed over AUD$ 27 billion of transactions across various sectors including renewable and conventional energy, telecommunications, waste, greenfield development, PPPs, and transportation. 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: People dont understand the industry, its very complex and even I dont understand some parts of it. The project will be Taiwan's largest solar project and was part of a twosite public tender.Equis won both tenders, and in accordance [] DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. You cant teach smarts, you either have a certain level of capability or you dont, and you have to be adaptable in this business. 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. 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