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. 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. 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. Find contact details for 700 million professionals. Prior to joining Equis, Andrew held senior roles at WorleyParsons and Toshiba. So while I was growing and being mentored, I had that slight frustration. 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. He has delivered assets in Europe, Middle East and Australia. DAVID: Theres an element of that. Tel: +65 6220 0040, Legal Notice & Terms of Use 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. I had been thinking about it for a number of years and with all my experience, I assumed it would be relatively easy. Not the David Russell you were looking for? We acknowledge that our school is on the Country of the people of the Kulin Nations. But to get to a certain point you have to think forward and consider all the paths and possibilities. 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. He has delivered assets across the Asia-Pacific. This website uses cookies to improve your experience. 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. 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. Over 22 years of Asia-Pacific private equity and infrastructure advisory and investment experience, Former Director & Board Member of Denham Capital Asia Pacific. Did you feel restricted by that? His thesis and work explore the . Russell, who attended Brighton Grammar and Monash University, will be back on board this weekend to host his James Bond themed birthday party. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. 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: We have that in our business model by having compensation tied to the performance of the business through carried interest. 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. 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. We are committed and responsive to the communities we serve. David Russell 1) Director, Clinical Research, Institute for Neurodegenerative Disorders; 2) Senior Medical Director, Invicro, LLC New Haven, CT 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). 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. But most importantly, if you want to be successful, youll have to work hard. MELPOMENE: Given that R&D in this sector is changing so quickly, are you concerned that your solar and wind facilities might become obsolete? Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. She wasnt joking. CRICOS Provider Code: 00132K. Those who want to work 9 to 5 will be successful in certain types of careers, but what we do here requires a lot of hard work. Secondly, hierarchical environments create ceilings and politics. 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. Equis, in partnership with the Sinan Municipality, is also establishing a fund through which the local community will invest into the project, enabling residents to benefit from Jara's long-term stable income stream. My partners and I put everything into this businessfinancially and personallyand if it were to fail, we would sink with the ship. David Russell VZIO stock SEC Form 4 insiders trading In Asia, power has always been the number one sector to invest in, not renewable energy. At Equis, our team is driven by the opportunity to sustainably transform Australias energy landscape together and leave a positive legacy for future generations. MELPOMENE: Why did you decide to target Asian markets? Bryce has deep experience in the Energy and Infrastructure sectors, having worked on multiple global transactions totalling over AUD$ 27bn. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. 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. They used to work at Macquarie. Its not just gratuitous giving. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. Daniel LeeGroup Head, Corporate CommunicationsDaniel.lee@venaenergy.com, Juwon ChaeGroup Head, Sustainability and Investor RelationsIR@venaenergy.com. We started to participate because we saw an opportunity to make good money and invest in a growing sector. In the Philippines, for example, the government budgets ahead so that they can afford power they need. These days, Equis Development is setting its sights on consolidating its position in Asias renewable energy and biomass power generation markets, having developed more than 200 renewable energy and waste infrastructure projects across the region. 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. being driven to the Seminary of the Good Shepherd. MELPOMENE: Hasnt that kind of short-term focus change with the increasing number of young people becoming entrepreneurs? Save 407.2 million litres of water each year (when compared with the water usage of coal fired power plants). Consequat id porta nibh. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. 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. Prior to joining Equis, Liz held planning and permitting roles at Goldwind. 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. The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. 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: 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. 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. Our purpose is to help current and future generations of Australians and we wont stop until we doso. These governments need to grow and theyre putting in place very stable regulatory regimes. Ltd. MELPOMENE: Was your background crucial to your success? Tell-all memoir: Ronni KahnCredit:Illustration: John Shakespeare. And you find that project developers tend to be more risk seeking, so its better to have someone whos more risk averse to balance their decision-making. 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. See our. 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? MELPOMENE: What gave you the foresight to begin investing in renewable energy in 2011? The information on this website is intended to be of a general nature only and doesn't consider your objectives, financial situation or needs. 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. Its not all hindsight. MELPOMENE: Skadden has a terrific reputation, how was it like working there? If theres a physical tussle over the South China Sea, its not going to affect our facilities. We offer a range of scholarships to give as many boys as possible the chance of a BGS education. Chris Wright is Asia editor. 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". DAVID: Technology and mindsets are evolving rapidly. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. 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. 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. Emma Alberici has landed a new gig, and, as promised, it's not on TV. 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. Theres a whole bunch of things on there that I really dont want to do [laughs]. 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. In the spirit of reconciliation Equis acknowledges the Traditional Custodians of Country throughout Australia and their connections to land, sea and community. 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. 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. 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. Craig Marsh settled upon a black McLaren with carbon-fibre trims. MELPOMENE: How has it been different at Equis? Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. MELPOMENE: Large corporations are almost inevitably hierarchical. They had reason to celebrate. And guess who was right? Here in Singapore, we talk about how to implement their strategies as well as manage the risk consistently across the different geographies. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. In Equis, all the senior people feel like theyre involved in the decision-making process and in terms of remuneration, its a meritocracy here. 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 DAVID: I do, and sometimes you cant avoid people feeling intimidated but you have to continually try to break that barrier down. We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. People say that Asia is developing, but their frameworks are far more developed than those in Europe. 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. 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. He then completed his K-12 Art Education teacher licensure program at Metropolitan State College of Denver. 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. DAVID: They worked hard. 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. Snowy Hydro has agreed to purchase 100% of the power produced from the Tailem Bend Solar Project for at least 22 years. 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. 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.. Hartford, Connecticut, United States. As the CEO and Chairman, David grew Equis Energy to become Asia-Pacifics largest renewable energy generator. Athletes' ambitions don't end when they leave the field of play. But obviously within large institutions like Macquarie, there are limits to how much an individual can influence the direction of the business. 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. That makes you focus harder, question harder and dig deeper until youre personally satisfied with solutions. Ive always worked long hours and that hasnt changed. DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. 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.. DAVID: I am always trying to take on more responsibility or have more control over what Im doing. Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. 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. MELPOMENE: Is what you know or who you know more important? Employ over 400 people during the construction phase. I dont think solar and wind per se will be obsolete, theyll always be utilised because theyre efficient and environment friendly. Prior to joining Equis, he was the Head of Trading and Wholesale Markets at Goldwind Australia. Will His AI Plans Be Any Different? DAVID: I sound really old when I say this [laughs], but I feel there is a generational shift. 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. Its interesting how that has come full circle. David Russell earned his B.F.A. 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. 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. 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. Another guest wore a blazer bearing an Order of Australia gong on their lapel. Congratulations to the Class of 2020, recording our best ever results. Instabilities in the region may give others pause, but we seek opportunities amidst them to keep growing. Were working to restore it. Called the Lady E, it's available to charter for a cool $767,840 a week. MELPOMENE: Steve Jobs said that you can only connect the dots looking backwardsis that true of your experiences? While were driving for business success, we formally make a point to give back to the community. 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. Equis Funds Group CEO 2010 Equis Energy Director Equis Managing Director Education We acknowledge that our school is on the Country of the people of the Kulin Nations. You can only aspire to be like them. In MinterEllison, you tend to work more with the general counsel but at Skadden, youre working directly with the CEO and CFOs. After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. And while the neighbours wont notice much of a difference from the historic frontage, it is clear where the vast outlay is going. Once I became nobody, a lot of those people actually went silent. We have the saying: You eat what you kill. Craig Marsh settled upon a black McLaren with carbon-fibre trims. in Painting/ Art History from the University of Tulsa. MELPOMENE: The project developers dont have the discretion to make decisions locally? Warne and former wife Simone Callahan made a $5m profit on the home after buying it in 2000 and selling it seven years later. The firm focuses 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, across Asia Pacific. Founder and leader David Russell got a yellow Lamborghini; his brother Tim, a personalized orange Porsche. 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. 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. Thomas has over 20 years experience working in a range of business development and energy trading roles. 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. 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. Our locally based staff boast a strong understanding of rural and regional Australia. 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. 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. Theres a lot of information coming at you and you need to have the ability to identify the issue thats embedded in that information. 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. As for the finance background, well, youve got to know the numbers when it comes to running a business. One George Street, Singapore 049145 Modest Rally in Asian Equities Expected as Regional Economies Remain Supportive and Valuations Reasonable, Dubai-Based Real Estate Developer Omniyat Launches Ultra-Luxury Beachfront Residences, Singapore Buyers Show Strong Interest in Mixed-Use Development in Londons Vauxhall, This Residential Tower in Dubai Features Interiors by Pagani, What to Expect at the Newly Reopened I12 Katong Retail Mall, Are You a HNWI? As Asia's largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the world's fastestgrowing renewable energy market You connect it to the building, charge it up, and take it home to generate electricity for your house. The newspapers report big losses and movies like Too Big to Fail contribute to that negative impression. There is no substitute for hard work. MELPOMENE: Is it important that the work you do creates value for society? Photo: Domain. They had reason to celebrate. He also has extensive investment and Mergers and Acquisitions experience in renewable energy across Asia. 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. "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. Were a lot happier not only making money but also making a difference. 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. 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. 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 Russell 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 . "It was like the last supper," one onlooker said. 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. 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.
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