MELPOMENE: Steve Jobs said that you can only connect the dots looking backwardsis that true of your experiences? 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.. Senectus et netus et malesuada fames ac turpis egestas sed. Its interesting how that has come full circle. DAVID K. RUSSELL. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. But what were we adding back to society? Theres a lot of information coming at you and you need to have the ability to identify the issue thats embedded in that information. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. Thomas has over 20 years experience working in a range of business development and energy trading roles. 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. 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, Equis Chairman, said, "As AsiaPacific's largest renewable energy IPP, Equis is pleased to be playing an important role in Taiwan's transition to lowcost, clean energy. Shane Warne sold the Brighton mansion for about $20m in 2018. 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. MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? 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. 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 Russell attended Brighton Grammar from 1982 to 1987, and was the Captain of Rugby in his final year. You see people in boardrooms using some of the terms that we do use in the industry, but the portrayal is largely inaccurate. 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. We pay our respect to their Elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today. When I started out of university, my peer group worked really hard and they were more dedicated. We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. DAVID: Definitely. Musk Made a Mess at Twitter. Snowy Hydro has agreed to purchase 100% of the power produced from the Tailem Bend Solar Project for at least 22 years. She managed a renewable energy portfolio of over 625MW in Australia, sat on the board of Avertas Waste to Energy as well as managed transport and social infrastructure projects. DAVID: I am always trying to take on more responsibility or have more control over what Im doing. MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. Its a matter of how theyll be utilised. 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. MELPOMENE: You were well-connected and had the expertise, but was it still a risky move? 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. Co-Founder, Managing Director. Supply the annual power needs of 63,165 homes. DAVID: I do, and sometimes you cant avoid people feeling intimidated but you have to continually try to break that barrier down. DAVID: Ive watched a couple and I always cringe [laughs]. 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: My legal background helped me because it gave me discipline and an eye for detail. They used to work at Macquarie. DAVID: Ive been forced to rethink of my priorities and came to the realisation that family is always number one to me. One George Street, Singapore 049145 DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. 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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. Instabilities in the region may give others pause, but we seek opportunities amidst them to keep growing. Russell, who attended Brighton Grammar and Monash University, will be back on board this weekend to host his James Bond themed birthday party. 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. 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. 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. Photo: Domain. These governments need to grow and theyre putting in place very stable regulatory regimes. He was far, far from perfect. I oversee, define, evolve, train, and advocate for enterprise standards and best practices related to Lean / Agile . The Company was formed in 2019 through the restructure of the Equis business model from a funds management business to an infrastructure asset development company. MELPOMENE: Whats one thing off the top of your head? Apparently Pell was flanked by a number of priests. Congratulations to the Class of 2020, recording our best ever results. Kahn is frank in the book, telling a painful story about a former American boyfriend she calls Anton whom she dated after her marriage broke down. 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. 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 Russell Full Name: David Charles Russell Company: Equis Pte. As CEO, David has raised and invested seven infrastructure private equity funds comprising over US$5 billion of equity for some of Asia-Pacifics largest independent and institutional infrastructure funds. Please try again later. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior Medical Director, Invicro, LLC New Haven, CT The proceeds of the biggest renewable energy deal in history have helped Equispartner Craig Marshfund a $10 million-plus waterfront property spending spree. 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. 2023 Tatler Asia Limited. DAVID: Its definitely not who you know. Will Others Follow? They had reason to celebrate. 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. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. California Weighs $360,000 in Reparations to Eligible Black Residents. Equis Funds Group CEO 2010 Equis Energy Director Equis Managing Director Education David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. David currently resides in Singapore and was on Singapore Tatlers list of Most Influential People in 2016 and 2018. Over there, our local guys are empowered to identify and drive growth from bottom up. MELPOMENE: Warren Buffet said that a big problem in the boardroom is that nobody wants to criticise the CEO. 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. 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. 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%. The estimated Net Worth of David Eugene Russell is at least $45.3 Million dollars as of 11 November 2021. 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? We felt that we deserved to be paid well because we were certainly working hard. China Equities: Yesterdays Story or More Compelling Than Ever? Bibendum arcu vitae elementum curabitur vitae nunc sed velit. He sold Equis Energy, which he founded in 2011, for (US) $5bn in 2017. 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 And yet, whatever the package contained, I was willing to put up with it," Khan and co-author Jessica Chapnik Kahn write. People hear about all these guys making so much money and they fear that its because theyre doing something theyre not supposed to be doing. We think in 5 years, it will revolutionise utility-scale power and in 10 years, it may completely revolutionise power. Our locally based staff boast a strong understanding of rural and regional Australia. Everything comes back to the numbers. being driven to the Seminary of the Good Shepherd. 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. Equis' team brings focus, experience, passion and conviction. Construction of the Collinsville North Solar Project is expected to commence in 2017. . We were also growing rapidly and did not want to give our competitors advance knowledge of what we were doing. By submitting this form, I agree to these terms and conditions. Ltd. 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. 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. 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. Here in Singapore, we talk about how to implement their strategies as well as manage the risk consistently across the different geographies. Called the Lady E, it's available to charter for a cool $767,840 a week. Brighton Grammar old boy puts new $5.9m spin on Shane Warne's former pad. He covers the Asia Pacific region and is based in Singapore. MELPOMENE: Those who behave egregiously are a very small percentage of the industry. 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. Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. 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. 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 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. You connect it to the building, charge it up, and take it home to generate electricity for your house. He was charming and once flew her to Hong Kong for dinner. Hartford, Connecticut, United States. Abigail Koch, Compare the Market general manager public relations, said they had been "smashed" by media requests. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? Secondly, hierarchical environments create ceilings and politics. As for the finance background, well, youve got to know the numbers when it comes to running a business. Craig Marsh settled upon a black McLaren with carbon-fibre trims. And thats very important because we now have 84 projects totaling close to 8 billion dollars. Credit:Jason South. 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. 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. But he also told me theres no law stating that you cant act unreasonably [laughs]. 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. DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. 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. It works better for senior management, while the junior staff is more interested in salary and annual bonuses rather than something that could be paid out 5 or 10 years later. DAVID: They worked hard. 2023 High Net Worth All rights reserved. Its human to fear what you dont understand. 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: Large corporations are almost inevitably hierarchical. We definitely know a lot of people, but this business was not built on that. What: Equis is focused on the development, construction, ownership and operation of energy, including renewable and hybrid (gas and renewable) systems, bioenergy and waste processing, and waste recovery infrastructure assets. David Russell. At work, I am direct with people and I encourage them to be the same with me. I dont think solar and wind per se will be obsolete, theyll always be utilised because theyre efficient and environment friendly. 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. The project will be Taiwan's largest solar project and was part of a twosite public tender.Equis won both tenders, and in accordance [] While were driving for business success, we formally make a point to give back to the community. Mahesh has over 14 years experience in infrastructure and real estate funds management across Asia. Building firm Davies Henderson, architect Christopher Doyle, gardening designer Paul Bangay and interior architect Thomas Hamel dont come cheap. MELPOMENE: Do you find that theres a biased perception against the financial industry, particularly after the 2008 financial crisis? 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 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. Weve got more than enough to invest in that space, and storage is just going to multiply that demand for capital. MELPOMENE: Is what you know or who you know more important? 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. It could become micro power grid systems where power is generated and distributed locally. Equis is actively pursuing infrastructure development and investment across the Asia-Pacific region, with a primary focus on Australia, Japan, and South Korea.
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