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: 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. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Our locally based staff boast a strong understanding of rural and regional Australia. In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. David Russell. We also bought businesses, made them better and sold them off. Search. 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. When the money cleared, the partners of Equis went shopping to celebrate. You see people in boardrooms using some of the terms that we do use in the industry, but the portrayal is largely inaccurate. He was far, far from perfect. Interest is certainly high. 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. Daniel LeeGroup Head, Corporate CommunicationsDaniel.lee@venaenergy.com, Juwon ChaeGroup Head, Sustainability and Investor RelationsIR@venaenergy.com. These people deserve to be caught and punished, but they are certainly not the norm in the industry. Vignesh has over 7 years experience in infrastructure investment and development across Asia. 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 has 3 current jobs including CEO at Equis Funds Group, Director at Equis Energy, and Managing Director at Equis. 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.. In the Philippines, for example, the government budgets ahead so that they can afford power they need. 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. 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. MELPOMENE: Have you ever been forced to rethink your life? We are committed and responsive to the communities we serve. David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. MELPOMENE: Large corporations are almost inevitably hierarchical. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? Snowy Hydro has agreed to purchase 100% of the power produced from the Tailem Bend Solar Project for at least 22 years. CBD hears that her ABC redundancy payout was in the vicinity of $300,000. 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. MELPOMENE: Is what you know or who you know more important? In 1998, David joined Macquarie Group, where he spent 12 years. You cant teach smarts, you either have a certain level of capability or you dont, and you have to be adaptable in this business. Its a matter of how theyll be utilised. Those inside the restaurant overheard the dinner was held to mark his release from jail. MELPOMENE: The project developers dont have the discretion to make decisions locally? 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. If theres a physical tussle over the South China Sea, its not going to affect our facilities. 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. He led Equis development of wind and solar projects in the Philippines. DAVID: Skydiving! 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. The pieces, which covered the strategies big businesses used to trim their tax burden, ended up being rewritten and republished. China Equities: Yesterdays Story or More Compelling Than Ever? 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 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. And guess who was right? Once I became nobody, a lot of those people actually went silent. Founding partner and CEO, Equis Development, Equis CEO David Russell is a key player in the Asia Pacific regions renewable energy game. David currently resides in Singapore and was on Singapore Tatlers list of Most Influential People in 2016 and 2018. 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. Its important to humble yourself. Yes, Only if Its Forma. Tell-all memoir: Ronni KahnCredit:Illustration: John Shakespeare. Theres a lot of information coming at you and you need to have the ability to identify the issue thats embedded in that information. 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", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. Over 22 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Director & Board Member of Denham Capital Asia Pacific. The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. MELPOMENE: What gave you the foresight to begin investing in renewable energy in 2011? Did you feel restricted by that? DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. Secondly, hierarchical environments create ceilings and politics. He sold Equis Energy, which he founded in 2011, for (US) $5bn in 2017. 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. The project will be Taiwan's largest solar project and was part of a twosite public tender.Equis won both tenders, and in accordance [] California Weighs $360,000 in Reparations to Eligible Black Residents. David Russell, Equis Managing Director, stated "Jara represents a pivot by Equis into more integrated renewable energy This website uses cookies to improve your experience. DAVID: Its definitely not who you know. 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. 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. David Russell MELPOMENE: Do you think that giving people ownership is the way to motivate them? When I left my previous employer, I didnt realize how risky it actually was. David Russell Full Name: David Charles Russell Company: Equis Pte. DAVID: Ive watched a couple and I always cringe [laughs]. MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? Not the David Russell you were looking for? 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$5bn of equity for Asian private equity, Former Macquarie Senior Managing Director & Head of Greater China & Asian Private Equity, Utilities lawyer, Skadden Arps (Washington DC) & Minter Ellison (Melbourne), Bachelor of Economics (Hons), LL.B (Hons), Monash University, Over 25 years of infrastructure investment experience, with 19 years in Australia, Bachelor of Commerce (Hons), Bachelor of Laws (LLB), Deakin University, Advanced Management Program, Harvard Business School, Over 17 years of Asian private equity and infrastructure investment experience, Former Macquarie Vice President & Head of Acquisitions MENA (Abu Dhabi), MKIF investment team (Korea), Bachelor of Economics, Seoul National University, 1 George Street #23-03 CRICOS Provider Code: 00132K. Bryce has deep experience in the Energy and Infrastructure sectors, having worked on multiple global transactions totalling over AUD$ 27bn. MELPOMENE: Was your background crucial to your success? 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. Now, the pendulum has swung from us being very quiet about our growth, to people asking questions because were the largest renewable energy developer in Asia. They used to work at Macquarie. DAVID: Technology and mindsets are evolving rapidly. Copyright 2023 Equis Development Pte. 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. But to get to a certain point you have to think forward and consider all the paths and possibilities. Save 397,400 tonnes of greenhouse gas emissions each year or the equivalent of removing 83,860 passenger vehicles from Australian roads. Instabilities in the region may give others pause, but we seek opportunities amidst them to keep growing. Brighton Grammar is a leading private boys school in Melbourne, understanding boys from ELC to VCE. DAVID: Even though Im the CEO, the decision-making is a collective process. 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. If anything we are quite an introverted group, but we knew what we were talking about. "Australia represents one of the most exciting solar power generation markets globally and Equis expects to build over $1 billion of new projects over the next 24-36 months," director David Russell said in the press release. DAVID: 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%. 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. 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. 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. 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 . 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. Abigail Koch, Compare the Market general manager public relations, said they had been "smashed" by media requests. MELPOMENE: Is it important that the work you do creates value for society? He then completed his K-12 Art Education teacher licensure program at Metropolitan State College of Denver. It plans to commit more than US$2billion into renewable energy and waste infrastructure assets across Australia, Japan and South Korea over the next twoyears. MELPOMENE: Has ownership changed your motivation towards work? David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. 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. In the Netherlands, theyve started using solar panels on their bike paths, so in the future you might not need large scale solar panels. Building firm Davies Henderson, architect Christopher Doyle, gardening designer Paul Bangay and interior architect Thomas Hamel dont come cheap. 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. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. Tel: +65 6220 0040, Legal Notice & Terms of Use 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. 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. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . 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: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. in Painting/ Art History from the University of Tulsa. Photo: Domain. Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. 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. He has delivered assets across the Asia-Pacific. DAVID: Its all relative. But most importantly, if you want to be successful, youll have to work hard. 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. MELPOMENE: Whats one thing off the top of your head? But what has changed is the level of desperation applied to the business when its your own. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. 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. Warnie, whose acumen in real estate is starting to rival his spin bowling prowess, had bought the 3000sq m property, which he once dubbed his favourite house, for $14.25m, 18 months before selling it to the Russells. They had reason to celebrate. Its not just gratuitous givingwe want to actually improve peoples lives, because we build our plants in a lot of rural areas. 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. 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. 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 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. We may no longer need to build big cathedral type power facilities and expensive distribution systems. Save 407.2 million litres of water each year (when compared with the water usage of coal fired power plants). Will Others Follow? Its human to fear what you dont understand. There are already storage systems that are very profitable, and one of them is pump storage. 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. And thats very important because we now have 84 projects totaling close to 8 billion dollars. And while the neighbours wont notice much of a difference from the historic frontage, it is clear where the vast outlay is going. DAVID: We have that in our business model by having compensation tied to the performance of the business through carried interest. Kahn is frank in the book, telling a painful story about a former American boyfriend she calls Anton whom she dated after her marriage broke down. We offer a range of scholarships to give as many boys as possible the chance of a BGS education. I also have a responsibility to the company in this respect, and were trying to be more socially orientated now. Bachelor of Laws (Hons)/ Bachelor of Economics (Hons) 1988 - 1993; Skills. 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. being driven to the Seminary of the Good Shepherd. Others Named David Russell. 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 solar, wind, biomass and waste infrastructure projects in Japan before returning to Australia in 2021. We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. 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. Ltd. "He was sitting in the middle of a long dinner table, and there was no one sitting opposite. EY Entrepreneur of the Year (Ernst & Young Singapore), Senior Alumni Award (National University of Singapore School of Business). Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. 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. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. 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 makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. 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. In Asia, power has always been the number one sector to invest in, not renewable energy. MELPOMENE: Steve Jobs said that you can only connect the dots looking backwardsis that true of your experiences? 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. Andrew has over 20 years' experience with energy infrastructure projects, specialising in thermal energy project development and construction. Thats a real problem with succession planning because you might lose the person you really want to keep because theyre frustrated at the lack of opportunities to grow. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. The strategy of remaining quiet has worked well, but its now time to engage. DAVID: Absolutely. While were driving for business success, we formally make a point to give back to the community. Ed has managed $13b of electricity regulated and commercial assets as GM for AusNets Transmission and Distribution networks. So while I was growing and being mentored, I had that slight frustration. David Russell VZIO stock SEC Form 4 insiders trading 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. 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.