That deal was a second innings for the spin bowler. 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. 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. When I started out of university, my peer group worked really hard and they were more dedicated. 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 $22m for a Noosa beachfront home in what is a record price for the Queensland holiday region. MELPOMENE: Those who behave egregiously are a very small percentage of the industry. Prior to joining Equis, Damian spent over 18 years at Macquarie and was the Head of Infrastructure, Utilities and Renewables (Australia and New Zealand) for Macquarie Infrastructure and Real Assets, one of the worlds largest infrastructure owners and developers. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. In Asia, power has always been the number one sector to invest in, not renewable energy. DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. 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Russell received his M.F.A. But there are a number of governments that came up with programmes to encourage investments in renewable energy. On Thursday, CBDs local operative spotted no fewer than seven utes, four vans and a truck surrounding the site. MELPOMENE: Why did you decide to target Asian markets? "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. Hartford, Connecticut, United States. 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. CBD hears that her ABC redundancy payout was in the vicinity of $300,000. Were sorry, this feature is currently unavailable. In the Netherlands, theyve started using solar panels on their bike paths, so in the future you might not need large scale solar panels. being driven to the Seminary of the Good Shepherd. People say that Asia is developing, but their frameworks are far more developed than those in Europe. Prior to joining Equis, Liz held planning and permitting roles at Goldwind. In the battery sector, the prices are falling but their performance is improving. Youre right at the table with them as a trusted advisor. As Asia's largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the world's fastestgrowing renewable energy market 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. MELPOMENE: Whats one thing off the top of your head? 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. US$5 billion sale of Equis Energy prompts Craig Marsh's high end real estate splurge, The Rosenthal family owned this three-bedroom house at Clifton Gardens since the 1940s. "He was sitting in the middle of a long dinner table, and there was no one sitting opposite. Its not just gratuitous giving. Our purpose is to help current and future generations of Australians and we wont stop until we doso. David Russell VZIO stock SEC Form 4 insiders trading Chief Executive Officer @ Equis; Senior Managing Director @ Macquarie Group; Education. 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. Craig Marsh settled upon a black McLaren with carbon-fibre trims. David Russell Full Name: David Charles Russell Company: Equis Pte. They used to work at Macquarie. Chris Wright is Asia editor. Although what relationship she has with the government given its voracious criticism of her reporting will be interesting. At Equis, our team is driven by the opportunity to sustainably transform Australias energy landscape together and leave a positive legacy for future generations. 2023 Tatler Asia Limited. Prior to joining Equis, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. 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. All rights reserved. DAVID: I do, and sometimes you cant avoid people feeling intimidated but you have to continually try to break that barrier down. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. MELPOMENE: Do you find that theres a biased perception against the financial industry, particularly after the 2008 financial crisis? Equis Funds Group CEO 2010 Equis Energy Director Equis Managing Director Education Supply the annual power needs of 63,165 homes. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. 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. 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. Were a lot happier not only making money but also making a difference. But to get to a certain point you have to think forward and consider all the paths and possibilities. 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. Will Others Follow? Ed has managed $13b of electricity regulated and commercial assets as GM for AusNets Transmission and Distribution networks. We built this business in Asia from the ground up and none of our major investors were brought over from Macquarie. Founding partner and CEO, Equis Development, Equis CEO David Russell is a key player in the Asia Pacific regions renewable energy game. DAVID: Skydiving! MELPOMENE: Is it important that the work you do creates value for society? 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. Congratulations to the Class of 2020, recording our best ever results. DAVID: Broadly speaking, it can affect investor confidencefor example, when the coups in Thailand hit the papers, people started calling us to ask about their investments. 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. 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. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. David Russell has 3 current jobs including CEO at Equis Funds Group, Director at Equis Energy, and Managing Director at Equis. The estimated Net Worth of David Eugene Russell is at least $45.3 Million dollars as of 11 November 2021. We felt that we deserved to be paid well because we were certainly working hard. The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. Musk Made a Mess at Twitter. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. The Company was formed in 2019 through the restructure of the Equis business model from a funds management business to an infrastructure asset development company. I dont think solar and wind per se will be obsolete, theyll always be utilised because theyre efficient and environment friendly. DAVID: When we first set up Equis, foreign investors wanted to talk about China and India, and they weren't focused on markets like Thailand and the Philippines. We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. We think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. Bryce has deep experience in the Energy and Infrastructure sectors, having worked on multiple global transactions totalling over AUD$ 27bn. 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. 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. He led Equis development of wind and hydro projects in India. Ltd. Industry: Private Equity Position: Chief Executive Officer & Director Ownership Type: Individual Date Status Acquired: 10/01/2010 Ownership Stake: Less than 5% Employment Details Company/Fund Name: Equis Pte. in Painting/ Art History from the University of Tulsa. Did you feel restricted by that? 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. The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. DAVID: Even though Im the CEO, the decision-making is a collective process. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. When the money cleared, the partners of Equis went shopping to celebrate. It could become micro power grid systems where power is generated and distributed locally. Yes, Only if Its Forma. 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. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. 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. DAVID: Technology and mindsets are evolving rapidly. We definitely know a lot of people, but this business was not built on that. 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. 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. 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. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. 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. Copyright 2023 Equis Development Pte. 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Called the Lady E, it's available to charter for a cool $767,840 a week. 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. Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. 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). Vignesh has over 7 years experience in infrastructure investment and development across Asia. They are part of C-Suite Department and their management level is C-Level. The strategy of remaining quiet has worked well, but its now time to engage. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. 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 I had been thinking about it for a number of years and with all my experience, I assumed it would be relatively easy. David Russell. 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. But most importantly, if you want to be successful, youll have to work hard. Equis' team brings focus, experience, passion and conviction. 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. 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. I also have a responsibility to the company in this respect, and were trying to be more socially orientated now. 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. Not the David Russell you were looking for? 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. 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. 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. 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. 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. Its human to fear what you dont understand. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. 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. 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: You were well-connected and had the expertise, but was it still a risky move? MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? Over there, our local guys are empowered to identify and drive growth from bottom up. Warne and former wife Simone Callahan made a $5m profit on the home after buying it in 2000 and selling it seven years later. Equis CEO David Russell is a key player in the Asia Pacific region's renewable energy game 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. The end point comes when Anton is in hospital overnight and another woman turns up by his bedside "with eyes only for Anton". Ltd. Equis Development has announced investments into the South Korean waste and solar markets, and the Japanese biomass market. MELPOMENE: They went silent because you left Macquarie? 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. They had reason to celebrate. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. MELPOMENE: How do you envision the use of renewables in ten years time? We're sure the builders are observing strict social distancing protocols during stage four lockdown. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. 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. And thats very important because we now have 84 projects totaling close to 8 billion dollars. 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. 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 also has extensive investment and Mergers and Acquisitions experience in renewable energy across Asia. David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. China Equities: Yesterdays Story or More Compelling Than Ever? 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 newspapers report big losses and movies like Too Big to Fail contribute to that negative impression. 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. 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]. Theres a lot of information coming at you and you need to have the ability to identify the issue thats embedded in that information. Over 22 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Director & Board Member of Denham Capital Asia Pacific. We think that the biggest renewable energy market is solar and we have to keep ahead of that technology curve. 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 is also . Thomas has over 20 years experience working in a range of business development and energy trading roles. DAVID: Thats the million-dollar question. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? Photo: Domain. Its not all hindsight. Its not just gratuitous givingwe want to actually improve peoples lives, because we build our plants in a lot of rural areas. So while I was growing and being mentored, I had that slight frustration. As for the finance background, well, youve got to know the numbers when it comes to running a business. In the Philippines, for example, the government budgets ahead so that they can afford power they need. You can only aspire to be like them. MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? DAVID: Its all relative. Where does the fallout from the Adani crisis take India now? Celebrity food writer Melissa Leong and chef Kylie Kwong are relegated to the inside cover, alongside Jimmy Barnes. At one point, Pell who was dressed in what one observer described as "priestly regalia" gave a short speech and toast. DAVID: Ive watched a couple and I always cringe [laughs]. 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. Andrew has over 20 years' experience with energy infrastructure projects, specialising in thermal energy project development and construction. Andrew has over 18 years in Australian large-scale renewable energy and has previously held senior positions at ENGIE, Goldwind and WSP where he was responsible for the development, construction, and delivery of primarily large-scale wind and storage projects. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. DAVID K. RUSSELL. MELPOMENE: How has it been different at Equis? Do you worry about that? Privacy Policy. 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. 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. 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. We also bought businesses, made them better and sold them off. In 1998, David joined Macquarie Group, where he spent 12 years. 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. 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. Vincenzo has over 15 years experience with renewable energy infrastructure projects, specialized in solar and BESS project development and construction. 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. He is the current Head of Legal for Equis in Australia and is responsible for all legal matters internally and associated with projects. 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. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. These people deserve to be caught and punished, but they are certainly not the norm in the industry. Snowy Hydro has agreed to purchase 100% of the power produced from the Tailem Bend Solar Project for at least 22 years. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? Empower. Brighton Grammar old boy puts new $5.9m spin on Shane Warne's former pad. 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. Construction of the Collinsville North Solar Project is expected to commence in 2017. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. When I left my previous employer, I didnt realize how risky it actually was. Will His AI Plans Be Any Different? Additionally, he has held various senior roles with companies such as WePower, AbsoluteClimo, European Energy Exchange, ASX Energy and Deutsche Bank. And yet, whatever the package contained, I was willing to put up with it," Khan and co-author Jessica Chapnik Kahn write. He was charming and once flew her to Hong Kong for dinner. 2023 High Net Worth All rights reserved. Apparently Pell was flanked by a number of priests. 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. There is no substitute for hard work. Its important to humble yourself. And guess who was right? 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. 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. 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. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 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. At work, I am direct with people and I encourage them to be the same with me. Equis is actively pursuing infrastructure development and investment across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea.
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