My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. He sold Equis Energy, which he founded in 2011, for (US) $5bn in 2017. EY Entrepreneur of the Year (Ernst & Young Singapore), Senior Alumni Award (National University of Singapore School of Business). 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. Its not just gratuitous givingwe want to actually improve peoples lives, because we build our plants in a lot of rural areas. The strategy of remaining quiet has worked well, but its now time to engage. We also bought businesses, made them better and sold them off. 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. We started to participate because we saw an opportunity to make good money and invest in a growing sector. Alberici vowed she would never front a TV show again after exiting the ABC. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. Our locally based staff boast a strong understanding of rural and regional Australia. Privacy Policy. 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. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. HSBC Orion tokenizes commercial bank money and sterling bonds, PrivEx brings syndicated loan-trading platform to Europe. 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. You can only aspire to be like them. He also has extensive investment and Mergers and Acquisitions experience in renewable energy across Asia. We acknowledge that our school is on the Country of the people of the Kulin Nations. Liz has over 14 years' experience of statutory planning experience within the infrastructure and renewable energy sector in Australia. This website uses cookies to improve your experience. DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. 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. Where: Developed markets across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea. 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. An army of builders is carrying out a $5.9 million upgrade at the heritage property, famously owned (not once, but twice) by former Test cricketer Shane Warne. DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. 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. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior . In Asia, power has always been the number one sector to invest in, not renewable energy. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. In MinterEllison, you tend to work more with the general counsel but at Skadden, youre working directly with the CEO and CFOs. MELPOMENE: You were well-connected and had the expertise, but was it still a risky move? DAVID: Skydiving! MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? We built this business in Asia from the ground up and none of our major investors were brought over from Macquarie. MELPOMENE: Is what you know or who you know more important? 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. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. At work, I am direct with people and I encourage them to be the same with me. 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. Supply the annual power needs of 63,165 homes. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX, CEO/Partner/Co-Founder, Equis Funds Group. Like the Mosman house, Marshs purchase on the Noosa waterfront is also expected to be a rebuild, withDA plans for a rebuild already lodged with Noosa Council. In 2010, David founded Equis Funds Group, Asia-Pacifics largest independent infrastructure private equity manager. Equis Development has announced investments into the South Korean waste and solar markets, and the Japanese biomass market. Chief Executive Officer @ Equis; Senior Managing Director @ Macquarie Group; Education. Equis' team brings focus, experience, passion and conviction. DAVID: Broadly speaking, it can affect investor confidencefor example, when the coups in Thailand hit the papers, people started calling us to ask about their investments. Copyright 2023 Brighton Grammar School. I was hoping that it would be a motivator for everyone, but thats me sitting here thinking about it as a 40-year-old. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? Photo: Domain. As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. Alberici starts on Monday. We are committed and responsive to the communities we serve. David Russell Regional Sales Manager NSW/ACT at Dialight APAC - World Leader In Hazardous and Industrial LED Lighting solutions . Bachelor of Laws (Hons)/ Bachelor of Economics (Hons) 1988 - 1993; Skills. MELPOMENE: Have you ever been forced to rethink your life? Prior to joining Equis, he was the Head of Trading and Wholesale Markets at Goldwind Australia. Building firm Davies Henderson, architect Christopher Doyle, gardening designer Paul Bangay and interior architect Thomas Hamel dont come cheap. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. He covers the Asia Pacific region and is based in Singapore. 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. 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. Daniel LeeGroup Head, Corporate CommunicationsDaniel.lee@venaenergy.com, Juwon ChaeGroup Head, Sustainability and Investor RelationsIR@venaenergy.com. 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. I dont think solar and wind per se will be obsolete, theyll always be utilised because theyre efficient and environment friendly. MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? Save 397,400 tonnes of greenhouse gas emissions each year or the equivalent of removing 83,860 passenger vehicles from Australian roads. Roby has over 10 years experience of renewable energy transactions across Asia, completing over AUD$ 675m in deals. You connect it to the building, charge it up, and take it home to generate electricity for your house. Although what relationship she has with the government given its voracious criticism of her reporting will be interesting. 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. To be developed entirely by Equis, the Tailem Bend Solar Project and Collinsville North Solar Project will bring the number of renewable energy projects under development and construction by Equis to 49. Its human to fear what you dont understand. 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. Find contact details for 700 million professionals. 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. Its a matter of how theyll be utilised. 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. Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. 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. Vignesh has over 7 years experience in infrastructure investment and development across Asia. David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. Over there, our local guys are empowered to identify and drive growth from bottom up. They are part of C-Suite Department and their management level is C-Level. The newspapers report big losses and movies like Too Big to Fail contribute to that negative impression. But her kids thought he was a phoney. He led Equis development of solar, wind, biomass and waste infrastructure projects in Japan before returning to Australia in 2021. Ed is a PhD-qualified grid connection expert with over 25 years of experience in renewable energy generation, transmission and distribution. Chris Wright is Asia editor. 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. DAVID: Its all relative. 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As for the finance background, well, youve got to know the numbers when it comes to running a business. 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. 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 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. 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. In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. Alberici's new gig is chief strategy government relations and communications officer. Co-Founder, Managing Director. I think that helps people remain human in this business. 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]. 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. 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. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior Medical Director, Invicro, LLC New Haven, CT The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. in Public Practice from Otis College of Art and Design in 2011. Marshssplurgefollows the US$5 billion sale of renewable energy firm Equis Energy to US fund Global Infrastructure Partners in January, billed in financial media as the largestrenewable energy generation acquisition in history. The esteem that the businesswoman turned social entrepreneur is held in is revealed by the calibre of the blurbs on the cover: ABC journalist Annabel Crabb gets star billing above former governor-general Quentin Bryce, while Crabbs boss, ABC chair Ita Buttrose, has to make do with the back page. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. But most importantly, if you want to be successful, youll have to work hard. DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. The knock-down rebuild of the rear of the house will feature two linked pavilions and include a dining and kitchen space as well as rumpus room, a master bedroom and gym. Now, the pendulum has swung from us being very quiet about our growth, to people asking questions because were the largest renewable energy developer in Asia. Search. But maybe thats a good thing, you see all these people whose primary focus has been work all their lives and sometimes when a death happens in the family, all of a sudden they stop and go: What am I doing? As the former CEO and Chairman of Equis Energy, David raised and invested over AUD$ 7.9 billion of equity in independent and institutional infrastructure funds across Asia-Pacific. 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. The Projects will involve a capital investment of approximately A$400 million. Another guest wore a blazer bearing an Order of Australia gong on their lapel. Theres a whole bunch of things on there that I really dont want to do [laughs]. And while the neighbours wont notice much of a difference from the historic frontage, it is clear where the vast outlay is going. 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. The end point comes when Anton is in hospital overnight and another woman turns up by his bedside "with eyes only for Anton". Greater Newcastle Area. 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? He led Equis development of wind and solar projects in the Philippines. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . MELPOMENE: Do you find that theres a biased perception against the financial industry, particularly after the 2008 financial crisis? He led Equis development of wind and hydro projects in India. One George Street, Singapore 049145 Athletes' ambitions don't end when they leave the field of play. MELPOMENE: How do you envision the use of renewables in ten years time? Did you feel restricted by that? Others Named David Russell. David Russell Full Name: David Charles Russell Company: Equis Pte. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 MELPOMENE: The project developers dont have the discretion to make decisions locally? He is the current Head of Legal for Equis in Australia and is responsible for all legal matters internally and associated with projects. David is Chairman of the Che Sara Sara Foundation, a not-for-profit that supports vulnerable parents and children in crisis in Russia, Uzbekistan and the Philippines. DAVID: Years ago, we were just moving paper around. Russell received his M.F.A. David Russell. 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.