These people deserve to be caught and punished, but they are certainly not the norm in the industry. 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. Although what relationship she has with the government given its voracious criticism of her reporting will be interesting. Craig Marsh settled upon a black McLaren with carbon-fibre trims. 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. 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. 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 $4 million, also slated for redevelopment. Photo: Domain. DAVID: I do, and sometimes you cant avoid people feeling intimidated but you have to continually try to break that barrier down. All rights reserved. But most importantly, if you want to be successful, youll have to work hard. MELPOMENE: They went silent because you left Macquarie? ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. If theres a physical tussle over the South China Sea, its not going to affect our facilities. DAVID: Yeah, a number of them obviously felt that while our relationship was important, it was based on our work together, so they were more likely to do business with Macquarie than some guy whos just starting out. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. Mahesh has over 14 years experience in infrastructure and real estate funds management across Asia. David is also . The proceeds of the biggest renewable energy deal in history have helped Equispartner Craig Marshfund a $10 million-plus waterfront property spending spree. He covers the Asia Pacific region and is based in Singapore. Alberici vowed she would never front a TV show again after exiting the ABC. 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Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. 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. But what has changed is the level of desperation applied to the business when its your own. 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. DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. We are committed and responsive to the communities we serve. DAVID: I am always trying to take on more responsibility or have more control over what Im doing. "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. He was far, far from perfect. 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. I think that helps people remain human in this business. In 2010, David founded Equis Funds Group, Asia-Pacifics largest independent infrastructure private equity manager. Save 397,400 tonnes of greenhouse gas emissions each year or the equivalent of removing 83,860 passenger vehicles from Australian roads. We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. Secondly, hierarchical environments create ceilings and politics. DAVID: My legal background helped me because it gave me discipline and an eye for detail. 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. DAVID: It was awesome! The Tailem Bend Solar Project and Collinsville North Solar Project will: The Tailem Bend Solar Project and Collinsville North Solar Project will be two of Australias lowest cost solar generation projects and will contribute low cost solar power and new jobs into regional communities. 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. They had reason to celebrate. By submitting this form, I agree to these terms and conditions. Equis Development has announced investments into the South Korean waste and solar markets, and the Japanese biomass market. Alberici starts on Monday. Equis Funds Group CEO 2010 Equis Energy Director Equis Managing Director Education 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. Save 407.2 million litres of water each year (when compared with the water usage of coal fired power plants). Apparently Pell was flanked by a number of priests. Daniel LeeGroup Head, Corporate CommunicationsDaniel.lee@venaenergy.com, Juwon ChaeGroup Head, Sustainability and Investor RelationsIR@venaenergy.com. 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. DAVID: Ive been forced to rethink of my priorities and came to the realisation that family is always number one to me. The other guests in the restaurant said they had to pinch themselves. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. DAVID: If youre intelligent, adaptable, and willing to work hard, you can be very successful without a legal or finance background. We think that the biggest renewable energy market is solar and we have to keep ahead of that technology curve. In the Netherlands, theyve started using solar panels on their bike paths, so in the future you might not need large scale solar panels. Our locally based staff boast a strong understanding of rural and regional Australia. For the guys underneath me, there were only so many senior positions available and it created frustration for those competing for it. Where: Developed markets across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. 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. Warne and former wife Simone Callahan made a $5m profit on the home after buying it in 2000 and selling it seven years later. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . You can only aspire to be like them. Athletes' ambitions don't end when they leave the field of play. 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. This website uses cookies to improve your experience. 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. They are part of C-Suite Department and their management level is C-Level. But to get to a certain point you have to think forward and consider all the paths and possibilities. He is the current Head of Legal for Equis in Australia and is responsible for all legal matters internally and associated with projects. That deal was a second innings for the spin bowler. And thats very important because we now have 84 projects totaling close to 8 billion dollars. DAVID: We have that in our business model by having compensation tied to the performance of the business through carried interest. 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. 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. MELPOMENE: Why did you decide to strike out on your own? MELPOMENE: Was your background crucial to your success? Founding partner and chief executive David Russell has reportedly paid close to $20 million for theMelbourne 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 ofIT entrepreneur Danny Wallis. 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. 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]. We offer a range of scholarships to give as many boys as possible the chance of a BGS education. A good thing, no doubt. That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. Equis is actively pursuing infrastructure development and investment across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. Musk Made a Mess at Twitter. The strategy of remaining quiet has worked well, but its now time to engage. The newspapers report big losses and movies like Too Big to Fail contribute to that negative impression. It could become micro power grid systems where power is generated and distributed locally. "It was like the last supper," one onlooker said. Were working to restore it. We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. So by removing the glass ceiling, we dont lose our senior people as we grow. 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. 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. This is firstly because Ive observed that as people become more autocratic, their decision-making becomes skewed and over time, they start to make costly mistakes, and very quickly theyre gone. 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. Interest is certainly high. When I left my previous employer, I didnt realize how risky it actually was. 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. MELPOMENE: Do you think that giving people ownership is the way to motivate them? As Asia's largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the world's fastestgrowing renewable energy market 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. 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. Construction of the Tailem Bend Solar Project is expected to commence in early 2017. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. But obviously within large institutions like Macquarie, there are limits to how much an individual can influence the direction of the business. 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. 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. 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. Does Joo Chiat Need Another Italian Joint? David Russell, Equis Managing Director, stated "Jara represents a pivot by Equis into more integrated renewable energy MELPOMENE: Why did you decide to target Asian markets? MELPOMENE: Is it important that the work you do creates value for society? We may no longer need to build big cathedral type power facilities and expensive distribution systems. You cant teach smarts, you either have a certain level of capability or you dont, and you have to be adaptable in this business. Prior to joining Equis, Liz held planning and permitting roles at Goldwind. MELPOMENE: Skadden has a terrific reputation, how was it like working there? In 2005-2010, based in Seoul and Hong Kong, David established three infrastructure private equity funds, including one of the first and largest South Korean private funds. DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? He led Equis development of wind and hydro projects in India. His work has included regulatory advice, project delivery advice, and transactional advice. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. He led Equis development of wind and solar projects in the Philippines. The end point comes when Anton is in hospital overnight and another woman turns up by his bedside "with eyes only for Anton". DAVID: Definitely. All rights reserved. Its interesting how that has come full circle. MELPOMENE: Whats one thing off the top of your head? Russell received his M.F.A. Liz has over 14 years' experience of statutory planning experience within the infrastructure and renewable energy sector in Australia. Ive always worked long hours and that hasnt changed. David Russell Regional Sales Manager NSW/ACT at Dialight APAC - World Leader In Hazardous and Industrial LED Lighting solutions . One George Street, Singapore 049145 At one point, Pell who was dressed in what one observer described as "priestly regalia" gave a short speech and toast. David Russell, Equis Group CEO, commented, "As Asia's largest renewable energy developer and investor, the Tailem Bend Solar Project represents an exciting expansion into Australia for Equis and an unique opportunity to leverage our development and construction expertise to deliver low cost, large scale, reliable renewable energy for . MELPOMENE: Did your legal and finance background help you in this field? 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. There are already storage systems that are very profitable, and one of them is pump storage. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. CBD hears that her ABC redundancy payout was in the vicinity of $300,000. 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. 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. David Russell Credit:Jason South. See our. Co-Founder, Managing Director. Ltd. DAVID: Skydiving! Brighton Grammar is a leading private boys school in Melbourne, understanding boys from ELC to VCE. He led Equis development of solar, wind, biomass and waste infrastructure projects in Japan before returning to Australia in 2021. 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. Thomas has over 20 years experience working in a range of business development and energy trading roles. Find contact details for 700 million professionals. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. 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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. In 1998, David joined Macquarie Group, where he spent 12 years. DAVID: They worked hard. 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.. Consequat id porta nibh. Weve got more than enough to invest in that space, and storage is just going to multiply that demand for capital. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. Founding partner and CEO, Equis Development, Equis CEO David Russell is a key player in the Asia Pacific regions renewable energy game. 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. 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. We acknowledge that our school is on the Country of the people of the Kulin Nations. 2023 Tatler Asia Limited. They had reason to celebrate. being driven to the Seminary of the Good Shepherd. 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. And guess who was right? 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. 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. Did you feel restricted by that? David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. 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 started out of university, my peer group worked really hard and they were more dedicated. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. Equis Energy , AsiaPacific's largest renewable energy IPP, has been awarded a contract by Taiwan's Ministry of Economic Affairs' Bureau of Energy (BOE) to develop a 70.2 MW solar project in Chiayi County's Yizhu Township. Empower. Copyright 2023 Equis Development Pte. 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. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? Others Named David Russell. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. 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. DAVID: Years ago, we were just moving paper around. Emma Alberici has landed a new gig, and, as promised, it's not on TV. 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.. He was charming and once flew her to Hong Kong for dinner. Over 22 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Director & Board Member of Denham Capital Asia Pacific. 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. Over there, our local guys are empowered to identify and drive growth from bottom up. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. 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.