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. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. 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. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Youre right at the table with them as a trusted advisor. MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? In MinterEllison, you tend to work more with the general counsel but at Skadden, youre working directly with the CEO and CFOs. 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. He led Equis development of wind and solar projects in the Philippines. 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. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. China Equities: Yesterdays Story or More Compelling Than Ever? Equis Funds Group CEO 2010 Equis Energy Director Equis Managing Director Education MELPOMENE: Did your legal and finance background help you in this field? We may no longer need to build big cathedral type power facilities and expensive distribution systems. The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. 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 . He has also written two books. If theres a physical tussle over the South China Sea, its not going to affect our facilities. You connect it to the building, charge it up, and take it home to generate electricity for your house. David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. Our experience, expertise, proven track record and strong relationships allow us to develop world-class energy assets on time, on budget and to the highest standard. MELPOMENE: Have you ever been forced to rethink your life? Shane Warne sold the Brighton mansion for about $20m in 2018. 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. MELPOMENE: Those who behave egregiously are a very small percentage of the industry. MELPOMENE: Skadden has a terrific reputation, how was it like working there? 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. David is also . I dont think solar and wind per se will be obsolete, theyll always be utilised because theyre efficient and environment friendly. Does Joo Chiat Need Another Italian Joint? These governments need to grow and theyre putting in place very stable regulatory regimes. In Asia, power has always been the number one sector to invest in, not renewable energy. Construction of the Tailem Bend Solar Project is expected to commence in early 2017. DAVID: It was awesome! That grew to be OzHarvest. We acknowledge that our school is on the Country of the people of the Kulin Nations. We also bought businesses, made them better and sold them off. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. So while I was growing and being mentored, I had that slight frustration. David graduated from their alma mater, Monash University and is currently based in Singapore, Central Singapore. Consequat id porta nibh. 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). 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. The end point comes when Anton is in hospital overnight and another woman turns up by his bedside "with eyes only for Anton". But there are a number of governments that came up with programmes to encourage investments in renewable energy. But her kids thought he was a phoney. Russell received his M.F.A. 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. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. 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. Celebrity food writer Melissa Leong and chef Kylie Kwong are relegated to the inside cover, alongside Jimmy Barnes. 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. 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. We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. We offer a range of scholarships to give as many boys as possible the chance of a BGS education. Not the David Russell you were looking for? Others Named David Russell. See our. 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. In the Netherlands, theyve started using solar panels on their bike paths, so in the future you might not need large scale solar panels. At work, I am direct with people and I encourage them to be the same with me. MELPOMENE: Do you find that theres a biased perception against the financial industry, particularly after the 2008 financial crisis? 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. Interest is certainly high. MELPOMENE: The project developers dont have the discretion to make decisions locally? Do you worry about that? 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. David Russell owns over 45,212 units of Vizio stock worth over $35,578,497 and over the last 2 years David sold VZIO stock worth over $9,742,692. After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . Alberici vowed she would never front a TV show again after exiting the ABC. Prior to joining Equis, Liz held planning and permitting roles at Goldwind. In 2010, David founded Equis Funds Group, Asia-Pacifics largest independent infrastructure private equity manager. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. 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: If youre intelligent, adaptable, and willing to work hard, you can be very successful without a legal or finance background. 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. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. David Russell earned his B.F.A. Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. DAVID: Years ago, we were just moving paper around. 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. He was charming and once flew her to Hong Kong for dinner. EY Entrepreneur of the Year (Ernst & Young Singapore), Senior Alumni Award (National University of Singapore School of Business). 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. When I started out of university, my peer group worked really hard and they were more dedicated. DAVID: Absolutely. The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. 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Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. 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. He is the current Head of Legal for Equis in Australia and is responsible for all legal matters internally and associated with projects. DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. There are already storage systems that are very profitable, and one of them is pump storage. MELPOMENE: Is what you know or who you know more important? But what has changed is the level of desperation applied to the business when its your own. 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. Greater Newcastle Area. 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.. MELPOMENE: You were well-connected and had the expertise, but was it still a risky move? 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]. 2023 High Net Worth All rights reserved. You see people in boardrooms using some of the terms that we do use in the industry, but the portrayal is largely inaccurate. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? Did you feel restricted by that? Search. Supply the annual power needs of 63,165 homes. But there are a number of governments that came up with programmes to encourage investments in renewable energy. Prior to joining Equis, he was the Head of Trading and Wholesale Markets at Goldwind Australia. 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. 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 pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. 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%. 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. In 2011, David established Equis Energy. The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. 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. Thomas has over 20 years experience working in a range of business development and energy trading roles. 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 other guests in the restaurant said they had to pinch themselves. Prior to joining Equis, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. Its not just gratuitous givingwe want to actually improve peoples lives, because we build our plants in a lot of rural areas. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. 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. 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. Liz has over 14 years' experience of statutory planning experience within the infrastructure and renewable energy sector in Australia. Our purpose is to help current and future generations of Australians and we wont stop until we doso. Were sorry, this feature is currently unavailable. David Russell Full Name: David Charles Russell Company: Equis Pte. While were driving for business success, we formally make a point to give back to the community. ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. He has held senior roles in energy infrastructure asset owners, developers, and consultancy firms engaged with renewable energy across wind, solar and storage in Australia, Europe, Central America and SE Asia. 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. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. 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. 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? MELPOMENE: Was your background crucial to your success? 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. 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. Once I became nobody, a lot of those people actually went silent. David currently resides in Singapore and was on Singapore Tatlers list of Most Influential People in 2016 and 2018. 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. HSBC Orion tokenizes commercial bank money and sterling bonds, PrivEx brings syndicated loan-trading platform to Europe. "It was like the last supper," one onlooker said. 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. Warne and former wife Simone Callahan made a $5m profit on the home after buying it in 2000 and selling it seven years later. He led Equis development of solar, wind, biomass and waste infrastructure projects in Japan before returning to Australia in 2021. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. Bibendum arcu vitae elementum curabitur vitae nunc sed velit. Ltd. Now the four-car basement garage is expanding to fit six, while the basement will accommodate a theatre, rumpus room, wine cellar, arcade room, plus a "modelling/crafts" room. DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. People say that Asia is developing, but their frameworks are far more developed than those in Europe. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior . 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. 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. Its not just gratuitous giving. 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. 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. 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. CRICOS Provider Code: 00132K. 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. MELPOMENE: They went silent because you left Macquarie? Find out more. Vignesh has over 7 years experience in infrastructure investment and development across Asia. We acknowledge that our school is on the Country of the people of the Kulin Nations. 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. DAVID: Even though Im the CEO, the decision-making is a collective process. DAVID: I do, and sometimes you cant avoid people feeling intimidated but you have to continually try to break that barrier down. 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. Musk Made a Mess at Twitter. He was far, far from perfect. Brighton Grammar is a leading private boys school in Melbourne, understanding boys from ELC to VCE. We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. 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. Founding partner and CEO, Equis Development, Equis CEO David Russell is a key player in the Asia Pacific regions renewable energy game. MELPOMENE: What gave you the foresight to begin investing in renewable energy in 2011? 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. Bachelor of Laws (Hons)/ Bachelor of Economics (Hons) 1988 - 1993; Skills. That deal was a second innings for the spin bowler. DAVID K. RUSSELL. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. As for the finance background, well, youve got to know the numbers when it comes to running a business. Yes, Only if Its Forma. MELPOMENE: Is it important that the work you do creates value for society? 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. They had reason to celebrate. As Asia's largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the world's fastestgrowing renewable energy market 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.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. Its a matter of how theyll be utilised. Called the Lady E, it's available to charter for a cool $767,840 a week. DAVID: Thats the million-dollar question. There is no substitute for hard work.