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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. 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. The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. They used to work at Macquarie. Craig Marsh settled upon a black McLaren with carbon-fibre trims. We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. 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. 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. 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. 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. Business isnt as aggressive as its been dramatised to be. 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 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. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. DAVID: My legal background helped me because it gave me discipline and an eye for detail. In 1998, David joined Macquarie Group, where he spent 12 years. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. He has delivered assets across the Asia-Pacific. MELPOMENE: Has ownership changed your motivation towards work? DAVID: I do. That deal was a second innings for the spin bowler. 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. 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. In Asia, power has always been the number one sector to invest in, not renewable energy. Consequat id porta nibh. David Russell earned his B.F.A. 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 think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. David Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. Were sorry, this feature is currently unavailable. After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. He was far, far from perfect. 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. As for the finance background, well, youve got to know the numbers when it comes to running a business. We acknowledge that our school is on the Country of the people of the Kulin Nations. Over 22 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Director & Board Member of Denham Capital Asia Pacific. David Russell, Equis Funds Group: Profile and Biography - Bloomberg Markets Sign In Subscribe Live Now Bloomberg TV+ Bloomberg Studio 1.0:Tony Xu, DoorDash CEO Bloomberg Radio The Big. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. Chief Executive Officer @ Equis; Senior Managing Director @ Macquarie Group; Education. In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. At Equis, our team is driven by the opportunity to sustainably transform Australias energy landscape together and leave a positive legacy for future generations. He also has extensive investment and Mergers and Acquisitions experience in renewable energy across Asia. He covers the Asia Pacific region and is based in Singapore. 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. DAVID: Skydiving! And yet, whatever the package contained, I was willing to put up with it," Khan and co-author Jessica Chapnik Kahn write. Instabilities in the region may give others pause, but we seek opportunities amidst them to keep growing. Supply the annual power needs of 63,165 homes. We think that the biggest renewable energy market is solar and we have to keep ahead of that technology curve. We started to participate because we saw an opportunity to make good money and invest in a growing sector. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. 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]. 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. The strategy of remaining quiet has worked well, but its now time to engage. DAVID K. RUSSELL. Theres a whole bunch of things on there that I really dont want to do [laughs]. David graduated from their alma mater, Monash University and is currently based in Singapore, Central Singapore. They had reason to celebrate. 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. 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. DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. 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. 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. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 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 . 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. She wasnt joking. When I started out of university, my peer group worked really hard and they were more dedicated. 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. 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. Prior to joining Equis, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. We built this business in Asia from the ground up and none of our major investors were brought over from Macquarie. 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. in Painting/ Art History from the University of Tulsa. DAVID: Yes, and theyve gone down a certain path that they may not even be aware of until they eventually just take it too far in trying to make money. 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. These people deserve to be caught and punished, but they are certainly not the norm in the industry. Photo: Domain. People start thinking that these are the bad guys, but based on my experience, its not the case. Senectus et netus et malesuada fames ac turpis egestas sed. 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. "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. After her August departure from the ABC, and fresh from recharging the batteries in Byron Bay, the former chief economics correspondent is joining online insurance comparison platform Compare the Market. The proceeds of the biggest renewable energy deal in history have helped Equispartner Craig Marshfund a $10 million-plus waterfront property spending spree. DAVID: If youre intelligent, adaptable, and willing to work hard, you can be very successful without a legal or finance background. We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. 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. Our purpose is to help current and future generations of Australians and we wont stop until we doso. The Projects will involve a capital investment of approximately A$400 million. His work has included regulatory advice, project delivery advice, and transactional advice. Empower. But most importantly, if you want to be successful, youll have to work hard. DAVID: Its all relative. When the money cleared, the partners of Equis went shopping to celebrate. MELPOMENE: Have you ever been forced to rethink your life? Everything comes back to the numbers. 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. See reunion dates, update your details and give to BGS. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. Secondly, hierarchical environments create ceilings and politics. 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. In the Philippines, for example, the government budgets ahead so that they can afford power they need. 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. We may no longer need to build big cathedral type power facilities and expensive distribution systems. MELPOMENE: Why did you decide to strike out on your own? Theres a lot of information coming at you and you need to have the ability to identify the issue thats embedded in that information. As Asia's largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the world's fastestgrowing renewable energy market MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? 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. MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 Craig Marsh settled upon a black McLaren with carbon-fibre trims. CBD hears that her ABC redundancy payout was in the vicinity of $300,000. Asia-Pacific-focused renewables designer Equis Development Pte Ltd has actually taken control of an AUD-1.9-billion (USD 1.28 bn/EUR 1.23 bn) battery energy storage space project near Melbourne, Victoria, and is now relaunching it with a new name as well as increased capacity. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior Medical Director, Invicro, LLC New Haven, CT Bryce has deep experience in the Energy and Infrastructure sectors, having worked on multiple global transactions totalling over AUD$ 27bn. 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. DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. While were driving for business success, we formally make a point to give back to the community. DAVID: Thats the million-dollar question. Ltd. 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. 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. He sold Equis Energy, which he founded in 2011, for (US) $5bn in 2017. MELPOMENE: Is what you know or who you know more important? ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. There are already storage systems that are very profitable, and one of them is pump storage. Find contact details for 700 million professionals. MELPOMENE HUA: Why did you decide to be profiled after years of being under the radar? The project will be Taiwan's largest solar project and was part of a twosite public tender.Equis won both tenders, and in accordance [] Separately, development approval has recently been obtained from the Whitsunday Regional Council for a 100MWAC solar project in Collinsville North, Queensland, Australia (Collinsville North Solar Project), to be constructed on land close to the Collinsville North substation. 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. Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. David Russell Regional Sales Manager NSW/ACT at Dialight APAC - World Leader In Hazardous and Industrial LED Lighting solutions . DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. Save 397,400 tonnes of greenhouse gas emissions each year or the equivalent of removing 83,860 passenger vehicles from Australian roads. DAVID: I get people coming out of Europe and the U.S. saying that theyre worried about Asian re-regulation risk and governments taking away our assets, but that happens even in Southern Europe. David Russell We acknowledge that our school is on the Country of the people of the Kulin Nations. Additionally, he has held various senior roles with companies such as WePower, AbsoluteClimo, European Energy Exchange, ASX Energy and Deutsche Bank. You see people in boardrooms using some of the terms that we do use in the industry, but the portrayal is largely inaccurate. 2023 High Net Worth All rights reserved. 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. But what were we adding back to society? Prior to joining Equis, he was the Head of Trading and Wholesale Markets at Goldwind Australia. 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. Our locally based staff boast a strong understanding of rural and regional Australia. 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. Youre right at the table with them as a trusted advisor. 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. 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. Ive always worked long hours and that hasnt changed. Copyright 2023 Equis Development Pte. In 2011, David established Equis Energy. But he also told me theres no law stating that you cant act unreasonably [laughs]. David Russell VZIO stock SEC Form 4 insiders trading MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? Alberici starts on Monday. 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. David Russell Helping Scaling SaaS and Renewables companies find the best talent Ireland. DAVID: I am always trying to take on more responsibility or have more control over what Im doing. That grew to be OzHarvest. Celebrity food writer Melissa Leong and chef Kylie Kwong are relegated to the inside cover, alongside Jimmy Barnes. He studied Law/Economics at Monash University and worked as an energy and utilities lawyer with Skadden, Arps, Slate, Meagher & Flom in Washington and with Minter Ellison in Melbourne. We offer a range of scholarships to give as many boys as possible the chance of a BGS education. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. 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. 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. 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.. 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. MELPOMENE: How do you envision the use of renewables in ten years time? In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. 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. If theres a physical tussle over the South China Sea, its not going to affect our facilities. The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. MELPOMENE: You were well-connected and had the expertise, but was it still a risky move? DAVID: Ive watched a couple and I always cringe [laughs]. Its not all hindsight. "It was like the last supper," one onlooker said. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. Abigail Koch, Compare the Market general manager public relations, said they had been "smashed" by media requests. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. At one point, Pell who was dressed in what one observer described as "priestly regalia" gave a short speech and toast. He led Equis development of solar, wind, biomass and waste infrastructure projects in Japan before returning to Australia in 2021. He led Equis development of wind and solar projects in the Philippines. And thats very important because we now have 84 projects totaling close to 8 billion dollars. A good thing, no doubt. 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 Tell-all memoir: Ronni KahnCredit:Illustration: John Shakespeare. 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. Co-Founder, Managing Director. 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. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. 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%. Vincenzo has over 15 years experience with renewable energy infrastructure projects, specialized in solar and BESS project development and construction. Bryce Paterson is a legal professional with over 10 years of experience both internationally and domestically in Australia. 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. Readers will recall Pell spent his first night of freedom upon his release in the Carmelite Monastery in Melbournes Kew, before being driven to the Seminary of the Good Shepherd in Sydney's Homebush. Credit:Jason South. HSBC Orion tokenizes commercial bank money and sterling bonds, PrivEx brings syndicated loan-trading platform to Europe. Once I became nobody, a lot of those people actually went silent. 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. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. For the guys underneath me, there were only so many senior positions available and it created frustration for those competing for it. Equis is actively pursuing infrastructure development and investment across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. 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.