D. E. Shaw & Co. is a New York-base hedge fund, private equity and technology development firm whose activities center on various aspects of the intersection between technology and finance. Based in New York City, New York, it was founded by David E. Shaw, who was formerly a faculty member in the computer science department at Columbia University. The firm through various affiliates, specializes in applying quantitative and qualitative trading strategies to hedge fund management and other investments. It makes private equity investments in early-stage and established firms involved in technology, health care, and financial services. It also acquires assets of distressed companies. The company's D.E. Shaw Research unit focuses on long-term scientific and technological projects. As of 2006, the company, described by Fortune in 1996 as "the most intriguing and mysterious force on Wall Street," manages approximately US $35 billion in aggregate capital over a number of different entities.