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. 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. 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. In 1998, David joined Macquarie Group, where he spent 12 years. Bibendum arcu vitae elementum curabitur vitae nunc sed velit. David Russell VZIO stock SEC Form 4 insiders trading Apr 2022 - Present11 months. MELPOMENE: Does the intermittency of solar and wind energy coupled with the lack of storage capabilities mean theres a limit to how much you can invest? And guess who was right? The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. Daniel LeeGroup Head, Corporate CommunicationsDaniel.lee@venaenergy.com, Juwon ChaeGroup Head, Sustainability and Investor RelationsIR@venaenergy.com. 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. 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. 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. Outside of work, its important to be approachable and to talk to people, grab a beer with them, and let them know that I shouldnt be treated differently. . DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. California Weighs $360,000 in Reparations to Eligible Black Residents. David graduated from their alma mater, Monash University and is currently based in Singapore, Central Singapore. 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. 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. 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. We may no longer need to build big cathedral type power facilities and expensive distribution systems. The Projects will involve a capital investment of approximately A$400 million. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. "He was sitting in the middle of a long dinner table, and there was no one sitting opposite. David Russell works as a Chief Executive Officer & Partner at Equis, which is a Finance company with an estimated 83 employees. 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. When I left my previous employer, I didnt realize how risky it actually was. David currently resides in Singapore and was on Singapore Tatlers list of Most Influential People in 2016 and 2018. David Russell Additionally, he has held various senior roles with companies such as WePower, AbsoluteClimo, European Energy Exchange, ASX Energy and Deutsche Bank. 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. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. Will His AI Plans Be Any Different? 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. Prior to joining Equis, Damian spent over 18 years at Macquarie and was the Head of Infrastructure, Utilities and Renewables (Australia and New Zealand) for Macquarie Infrastructure and Real Assets, one of the worlds largest infrastructure owners and developers. Its important to humble yourself. 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. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. We acknowledge that our school is on the Country of the people of the Kulin Nations. 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. Copyright 2023 Equis Development Pte. He then completed his K-12 Art Education teacher licensure program at Metropolitan State College of Denver. I dont think solar and wind per se will be obsolete, theyll always be utilised because theyre efficient and environment friendly. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. Russell, who attended Brighton Grammar and Monash University, will be back on board this weekend to host his James Bond themed birthday party. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. But obviously within large institutions like Macquarie, there are limits to how much an individual can influence the direction of the business. All rights reserved. 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 attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. How: Equis covers every stage of a projects lifecycle including origination, development, design construction, and engineering, to operation and maintenance, asset management, and performance optimisation. Search. He has delivered assets across the Asia-Pacific. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. Craig Marsh settled upon a black McLaren with carbon-fibre trims. Theres a whole bunch of things on there that I really dont want to do [laughs]. We felt that we deserved to be paid well because we were certainly working hard. But there are a number of governments that came up with programmes to encourage investments in renewable energy. He has also written two books. 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. We also bought businesses, made them better and sold them off. Prior to joining Equis, Liz held planning and permitting roles at Goldwind. We were partly fortunate because the investor market had not focused on renewable energy the way it should have, and that gave us a 6-year head start. 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. One George Street, Singapore 049145 MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? David.Russell@sbs.ox.ac.uk Sad Business School University of Oxford Park End Street Oxford OX1 1HP Profile David Russell has joined Sad Business School as an Executive in Residence, after having led the Education and Training Foundation (ETF) in England as CEO for 8 years and having previously served the UK government for 16. Ltd. 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: It was awesome! 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. 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. In addition, the Tailem Bend Solar Project has been developed to facilitate large scale battery storage further enhancing the base load like nature of the projects.. DAVID: Its definitely not who you know. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. 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. MELPOMENE: You were well-connected and had the expertise, but was it still a risky move? 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. 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.. At work, I am direct with people and I encourage them to be the same with me. MELPOMENE: Did your legal and finance background help you in this field? He is the current Head of Legal for Equis in Australia and is responsible for all legal matters internally and associated with projects. But most importantly, if you want to be successful, youll have to work hard. Tell-all memoir: Ronni KahnCredit:Illustration: John Shakespeare. Bryce has deep experience in the Energy and Infrastructure sectors, having worked on multiple global transactions totalling over AUD$ 27bn. DAVID: The level at which you can supply renewable energy into the grid is actually quite highfor example, Germany is at around 50% now and theyre targeting 100%. We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. 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. We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. He led Equis development of solar, wind, biomass and waste infrastructure projects in Japan before returning to Australia in 2021. Hartford, Connecticut, United States. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, CEO/Partner/Co-Founder, Equis Funds Group. Asia-Pacific-focused renewables designer Equis Development Pte Ltd has actually taken control of an AUD-1.9-billion (USD 1.28 bn/EUR 1.23 bn) battery energy storage space project near Melbourne, Victoria, and is now relaunching it with a new name as well as increased capacity. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior . He led Equis development of wind and hydro projects in India. MELPOMENE: Why did you decide to strike out on your own? The memoir coming out later this year is expected to dish on a nasty stoush with ABC management after Alberici published an economics comment piece which incensed the Turnbull government so much so it sent several letters of complaint to the ABC. DAVID: Theres an element of that. Readers will recall Pell spent his first night of freedom upon his release in the Carmelite Monastery in Melbournes Kew, before being driven to the Seminary of the Good Shepherd in Sydney's Homebush. David Russell who has made his fortune as the cofounder of Singapore-based private equity group Equis has been spending time aboard the impressive vessel with his family. Andrew has over 20 years' experience with energy infrastructure projects, specialising in thermal energy project development and construction. DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. Damian has 23 years of infrastructure investment experience, with over 17 years experience in Asia Pacific, and has completed over AUD$ 27 billion of transactions across various sectors including renewable and conventional energy, telecommunications, waste, greenfield development, PPPs, and transportation. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 We're sure the builders are observing strict social distancing protocols during stage four lockdown. DAVID: My legal background helped me because it gave me discipline and an eye for detail. Prior to joining Equis, Andrew held senior roles at WorleyParsons and Toshiba. 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. We think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. 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. 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. 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. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. DAVID: Absolutely. 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. For the guys underneath me, there were only so many senior positions available and it created frustration for those competing for it. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? When I started out of university, my peer group worked really hard and they were more dedicated. The strategy of remaining quiet has worked well, but its now time to engage. Were sorry, this feature is currently unavailable. MELPOMENE: Is what you know or who you know more important? MELPOMENE: Do you ever watch popular films that depict the financial industry? Tel: +65 6220 0040, Legal Notice & Terms of Use We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. We definitely know a lot of people, but this business was not built on that. 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. CRICOS Provider Code: 00132K. 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. Although what relationship she has with the government given its voracious criticism of her reporting will be interesting. DAVID: Years ago, we were just moving paper around. Do you worry about that? That deal was a second innings for the spin bowler. Photo: Domain. 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. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. 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. Prior to joining Equis, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. David Russell Full Name: David Charles Russell Company: Equis Pte. MELPOMENE: Do you think that giving people ownership is the way to motivate them? DAVID: Its all relative. Greater Newcastle Area. MELPOMENE: How do you envision the use of renewables in ten years time? That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. He covers the Asia Pacific region and is based in Singapore. Brighton Grammar is a leading private boys school in Melbourne, understanding boys from ELC to VCE. Celebrity food writer Melissa Leong and chef Kylie Kwong are relegated to the inside cover, alongside Jimmy Barnes. You cant teach smarts, you either have a certain level of capability or you dont, and you have to be adaptable in this business. 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. In 2011, David established Equis Energy. Kahn thought Anton was like Cary Grant. CBD hears that her ABC redundancy payout was in the vicinity of $300,000. It could become micro power grid systems where power is generated and distributed locally. Bryce Paterson is a legal professional with over 10 years of experience both internationally and domestically in Australia. That grew to be OzHarvest. I had been thinking about it for a number of years and with all my experience, I assumed it would be relatively easy. 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. There is no substitute for hard work. David Russell Helping Scaling SaaS and Renewables companies find the best talent Ireland. 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. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. Russell received his M.F.A. ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. Vignesh has over 7 years experience in infrastructure investment and development across Asia. 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. At Equis, our team is driven by the opportunity to sustainably transform Australias energy landscape together and leave a positive legacy for future generations. 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 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. 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? 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. Weve got more than enough to invest in that space, and storage is just going to multiply that demand for capital. Senectus et netus et malesuada fames ac turpis egestas sed. David Russell earned his B.F.A. The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. Its human to fear what you dont understand. MELPOMENE: Skadden has a terrific reputation, how was it like working there? Interest is certainly high. If theres a physical tussle over the South China Sea, its not going to affect our facilities. Equis' team brings focus, experience, passion and conviction. 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. David is also . 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. To be developed entirely by Equis, the Tailem Bend Solar Project and Collinsville North Solar Project will bring the number of renewable energy projects under development and construction by Equis to 49. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. This website uses cookies to improve your experience. They had reason to celebrate. Warne and former wife Simone Callahan made a $5m profit on the home after buying it in 2000 and selling it seven years later. 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. Athletes' ambitions don't end when they leave the field of play. DAVID: I do. Will Others Follow? Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. The newspapers report big losses and movies like Too Big to Fail contribute to that negative impression. The company was part of reportedly the largest global renewable energy transaction in history in 2018 when its subsidiary, Equis Energy, was sold to Global Infrastructure Partners for US$5 billion. Did you feel restricted by that? MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? These governments need to grow and theyre putting in place very stable regulatory regimes. Youre right at the table with them as a trusted advisor. David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. MELPOMENE: The project developers dont have the discretion to make decisions locally? David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. So while I was growing and being mentored, I had that slight frustration. 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. Apparently Pell was flanked by a number of priests. He led Equis development of wind and solar projects in the Philippines. MELPOMENE: Steve Jobs said that you can only connect the dots looking backwardsis that true of your experiences? They used to work at Macquarie. 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 . And thats very important because we now have 84 projects totaling close to 8 billion dollars. Co-Founder, Managing Director. So by removing the glass ceiling, we dont lose our senior people as we grow. DAVID: We have that in our business model by having compensation tied to the performance of the business through carried interest. We built this business in Asia from the ground up and none of our major investors were brought over from Macquarie. While were driving for business success, we formally make a point to give back to the community. Its not just gratuitous givingwe want to actually improve peoples lives, because we build our plants in a lot of rural areas. 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. MELPOMENE: Do you find that theres a biased perception against the financial industry, particularly after the 2008 financial crisis? These days, Equis Development is setting its sights on consolidating its position in Asias renewable energy and biomass power generation markets, having developed more than 200 renewable energy and waste infrastructure projects across the region. Were a lot happier not only making money but also making a difference. The estimated Net Worth of David Eugene Russell is at least $45.3 Million dollars as of 11 November 2021.
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