DAVID: My legal background helped me because it gave me discipline and an eye for detail. Here in Singapore, we talk about how to implement their strategies as well as manage the risk consistently across the different geographies. MELPOMENE: Large corporations are almost inevitably hierarchical. 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. MELPOMENE: You are headquartered in Singapore but your operations are in other parts of Asia? Empower. Ed is a PhD-qualified grid connection expert with over 25 years of experience in renewable energy generation, transmission and distribution. 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. "I understand now how people can love a person who does awful things. 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. Brighton Grammar is a leading private boys school in Melbourne, understanding boys from ELC to VCE. 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. When I left my previous employer, I didnt realize how risky it actually was. 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. 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: Definitely. And guess who was right? All rights reserved. They used to work at Macquarie. 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. The Projects will involve a capital investment of approximately A$400 million. ", Emma Alberici has landed a new gig, and, as promised, it's not on TV.Credit:ABC. Mahesh has over 14 years experience in infrastructure and real estate funds management across Asia. We care about delivering the best outcomes for our stakeholders and our collective experience allows us to develop high quality projects. Theres a lot of information coming at you and you need to have the ability to identify the issue thats embedded in that information. 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. MELPOMENE: Do you think that giving people ownership is the way to motivate them? Senectus et netus et malesuada fames ac turpis egestas sed. 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. 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. 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. MELPOMENE: Do you ever watch popular films that depict the financial industry? Called the Lady E, it's available to charter for a cool $767,840 a week. 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: I do. Vignesh has over 7 years experience in infrastructure investment and development across Asia. He has delivered assets in Europe, Middle East and Australia. Were working to restore it. Did you feel restricted by that? He was charming and once flew her to Hong Kong for dinner. MELPOMENE: Was your background crucial to your success? . 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. 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. 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 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. That is unheard of in other places but that was the Skadden mindsetthey were tough and uncompromising. He is the current Head of Legal for Equis in Australia and is responsible for all legal matters internally and associated with projects. DAVID: They worked hard. We started to participate because we saw an opportunity to make good money and invest in a growing sector. Its not all hindsight. Prior to joining Equis, he was the Head of Trading and Wholesale Markets at Goldwind Australia. In the battery sector, the prices are falling but their performance is improving. DAVID: Even though Im the CEO, the decision-making is a collective process. Representatives for the Catholic Church and Pell did not return calls and emails on Thursday. In 10 years, buildings can be fitted with solar panels and your phone could double as a storage device. 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. Russell, who attended Brighton Grammar and Monash University, will be back on board this weekend to host his James Bond themed birthday party. Prior to joining Equis, Vincenzo held roles with Canadian Solar, Raygen Resources, ABB and various European solar companies and technology providers. EY Entrepreneur of the Year (Ernst & Young Singapore), Senior Alumni Award (National University of Singapore School of Business). Celebrity food writer Melissa Leong and chef Kylie Kwong are relegated to the inside cover, alongside Jimmy Barnes. That also affects performance and I think its partly why some investors prefer independent managers because the alignment of interest is stronger. David Russell, Equis Chairman, said: "As Asia-Pacific's largest renewable energy IPP, Equis is pleased to be playing an important role in Taiwan's transition to low-cost, clean energy. 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. 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. Marshssplurgefollows the US$5 billion sale of renewable energy firm Equis Energy to US fund Global Infrastructure Partners in January, billed in financial media as the largestrenewable energy generation acquisition in history. 2023 Tatler Asia Limited. We definitely know a lot of people, but this business was not built on that. The clearance of funds that day in January 2018 marked the conclusion of the biggest renewable energy sale ever completed. Prior to joining Equis, Andrew held senior roles at WorleyParsons and Toshiba. Abigail Koch, Compare the Market general manager public relations, said they had been "smashed" by media requests. DAVID RUSSELL: When we started the business, we decided to keep a low profile because we wanted our relationships with governments to stabilise. Greater Newcastle Area. And while the neighbours wont notice much of a difference from the historic frontage, it is clear where the vast outlay is going. Cardinal George Pell has kept an ultra-low profile since walking out of Victorias Barwon Prison on April 7 following a High Court decision to overturn his conviction on charges of historical sex abuse. David Russell, Equis Group CEO, commented, "As Asia's largest renewable energy developer and investor, the Tailem Bend Solar Project represents an exciting expansion into Australia for Equis and an unique opportunity to leverage our development and construction expertise to deliver low cost, large scale, reliable renewable energy for . Everything comes back to the numbers. HSBC Orion tokenizes commercial bank money and sterling bonds, PrivEx brings syndicated loan-trading platform to Europe. Roby has over 10 years experience of renewable energy transactions across Asia, completing over AUD$ 675m in deals. After building the Korean private equity business, I felt that it was time to do it myself rather than rely on an institutional brand. David Russell, partner and co-founder of Equis comments, "Following a number of significant and successful divestments including the sale of the Equis Energy portfolio to Global Infrastructure Partners, we have identified significant new investment and growth opportunities and Mark's appointment to the partnership will significantly strengthen . But he also told me theres no law stating that you cant act unreasonably [laughs]. David Russell, Equis Managing Director, stated "Jara represents a pivot by Equis into more integrated renewable energy Our locally based staff boast a strong understanding of rural and regional Australia. 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. 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. Some of these people want to take a shortcut instead of working hard and they may cut corners, which is unlawful. Does Joo Chiat Need Another Italian Joint? David is a Managing Director of Equis and has 28 years of infrastructure and private equity experience. Equis' team brings focus, experience, passion and conviction. 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. If theres a physical tussle over the South China Sea, its not going to affect our facilities. 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. 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. Were sorry, this feature is currently unavailable. David Russell has 3 current jobs including CEO at Equis Funds Group, Director at Equis Energy, and Managing Director at Equis. 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. DAVID: If youre intelligent, adaptable, and willing to work hard, you can be very successful without a legal or finance background. Prior to joining Equis, he worked as a commercial lawyer specialising in litigation and dispute resolution for 4 years. DAVID K. RUSSELL. 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%. In the Philippines, for example, the government budgets ahead so that they can afford power they need. David Russell They had reason to celebrate. 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. Apr 2022 - Present11 months. We have the saying: You eat what you kill. 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. 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. At work, I am direct with people and I encourage them to be the same with me. Tell-all memoir: Ronni KahnCredit:Illustration: John Shakespeare. 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. Over there, our local guys are empowered to identify and drive growth from bottom up. 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. He was far, far from perfect. Find out more. They had reason to celebrate. 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. 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.. We're sure the builders are observing strict social distancing protocols during stage four lockdown. Out of jail: Cardinal George Pell on April 7, when he was released from Barwon Prison. 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 We are committed and responsive to the communities we serve. We also bought businesses, made them better and sold them off. 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. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. 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. Where does the fallout from the Adani crisis take India now? It could become micro power grid systems where power is generated and distributed locally. DAVID: The plant operations, business development and growth are in other Asian countries such as the Philippines, Japan and India. 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. Alberici starts on Monday. We offer a range of scholarships to give as many boys as possible the chance of a BGS education. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. 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, 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. 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. 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. 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. 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. 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Tel: +65 6220 0040, Legal Notice & Terms of Use By submitting this form, I agree to these terms and conditions. Its human to fear what you dont understand. 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. The former ABC chief economics editor is writing a book for Hardie Grant, Rewrite the Story. 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. Those inside the restaurant overheard the dinner was held to mark his release from jail. Mindy has over 14 years experience in infrastructure, power and renewable energy in Australia and South East Asia. MELPOMENE: Is what you know or who you know more important? Copyright 2023 Brighton Grammar School. She wasnt joking. So by removing the glass ceiling, we dont lose our senior people as we grow. 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. 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? Hartford, Connecticut, United States. Copyright 2023 Equis Development Pte. MELPOMENE: Has ownership changed your motivation towards work? We are committed to using innovative, responsible and sustainable practices to help Australia reach a carbon free future. 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: Have you ever been forced to rethink your life? "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. Chief Executive Officer @ Equis; Senior Managing Director @ Macquarie Group; Education. As Asia's largest independent renewable energy IPP, Equis is wellplaced to continue our rapid growth in the world's fastestgrowing renewable energy market 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. Its not just gratuitous giving. So while I was growing and being mentored, I had that slight frustration. The strategy of remaining quiet has worked well, but its now time to engage. 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. But her kids thought he was a phoney. 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 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. 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. Additionally, David Russell has had 1 past job as the Senior Managing Director at Macquarie Group. MELPOMENE: Are you worried that the South China Sea dispute will affect investor confidence in the region? DAVID: Ive been forced to rethink of my priorities and came to the realisation that family is always number one to me. "It was like the last supper," one onlooker said. Do you worry about that? People say that Asia is developing, but their frameworks are far more developed than those in Europe. But there are a number of governments that came up with programmes to encourage investments in renewable energy. Emma Alberici has landed a new gig, and, as promised, it's not on TV. At one point, Pell who was dressed in what one observer described as "priestly regalia" gave a short speech and toast. 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. 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 Athletes' ambitions don't end when they leave the field of play. She tells CBD she will be based in Sydney, rather than the comparison sites Brisbane headquarters. David Russell Helping Scaling SaaS and Renewables companies find the best talent Ireland. Please try again later. Find contact details for 700 million professionals. 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. 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. 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. Congratulations to the Class of 2020, recording our best ever results. 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. 2023 High Net Worth All rights reserved. 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. There is no substitute for hard work. Kahn thought Anton was like Cary Grant. DAVID: People dont understand the industry, its very complex and even I dont understand some parts of it. In the Netherlands, theyve started using solar panels on their bike paths, so in the future you might not need large scale solar panels. David graduated from their alma mater, Monash University and is currently based in Singapore, Central Singapore. "He was sitting in the middle of a long dinner table, and there was no one sitting opposite. This website uses cookies to improve your experience. When the money cleared, the partners of Equis went shopping to celebrate. 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. 1 George Street #23-03 One George Street, Singapore 049145 Tel: +65 6220 0040 Ronni Kahn, founder of the OzHarvest Charity, has a memoir coming out, titled A Repurposed Life. 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: Those who behave egregiously are a very small percentage of the industry.