D. E. Shaw group history

D. E. Shaw began investing in June 1989, having secured $28 million in capital from Paloma Partners Management Co. and a couple of private investors.

By 1990, the company had moved to a loft on Park Avenue South, and it relocated again the following year to Tower 45 on West 45th Street.

The focus of recruiting broadened to include liberal arts graduates in early 1992.

In 1994, the company's net return was 26 percent.

In 1997, the firm returned capital to most of its early investors in favor of a structured credit facility of nearly $2 billion from Bank of America, with terms that allowed D. E. Shaw & Co. to keep a higher fraction of profits than hedge fund investors normally allow.

Following the collapse of this alliance, D. E. Shaw sold off business and laid off employees, reducing its core workforce from 540 employees in 1999 to 180.

In 2002, he removed himself from day-to-day involvement in the company and transitioned leadership to a team of six of the firm's senior managing directors.

At the beginning of the financial crisis in August 2007, D. E. Shaw's multi-strategy fund had assets of $20 billion.

By September 2008, the company's capital was leveraged at 4x.

By 2009, D. E. Shaw had returned about $2 billion at clients' requests.

In 2010, the company had more than 1,300 employees.Currently, the Executive Committee, comprises Anne Dinning, Max Stone, Julius Gaudio, Eric Wepsic, Eddie Fishman, and Alexis Halaby.