Fundamental Research Analyst Internship

Headquartered in New York City, New York, USA, a multinational investment management firm D. E. Shaw & Co., L.P. was founded by David E. Shaw in the year 1988. It is a privately owned Limited Partnership which sponsors hedge fund. The company specializes in developing sophisticated computer programmes and complicated mathematical models for the purpose of exploiting market anomalies. Based on mathematical models and human expertise, the firm deploys investment strategies, with the motive of acquisition of existing companies and financing the newer ones.  The company has offices in 11 major cities around the world including, New York City, Boston, Bermuda, Kansas City, Princeton, Silicon Valley, London, Luxembourg, Hong Kong, Hyderabad, and Shanghai. The Indian subsidiary of the company goes by the name D.E. Shaw India Private Limited (DESIS) and has its main office in Hyderabad.

Organisation Structure

Strategies Used

• Systematic:
  • Active Equity: A suite of benchmark-relative long-only and extended equity strategies that seek to generate attractive long-term excess returns through a systematic, risk-aware approach to stock selection.
  • Equity Arbitrage: Encompasses the firm’s longest-running strategy, which applies proprietary quantitative models based on perceived technical, event-related, or fundamental inefficiencies in the global equity markets.
  • Systematic Futures Trading: Engages in trading of systematic forecasts generally based on technical inputs or on macroeconomic data; instruments traded relate to equity indices, government bonds and interest rates, currencies, and commodities.
• Hybrid:
  • Equity-Linked Strategies: concentrates on relative-value trades involving, among other things, convertible and derivative securities.
  • Orienteer: involves a rigorous discretionary investment process that leverages the firm’s considerable alternative investment resources to pursue long-biased investments across a range of global asset classes.
• Discretionary:
  • Asset-Backed Strategies: invests in a broad range of asset-backed products—including mortgage-backed securities and consumer assets—in both cash and synthetic markets.
  • Corporate Credit: conducts fundamental financial, operational, and legal analysis in connection with secondary market trading, credit extension, and control investments in distressed securities in the global credit markets.
  • Discretionary Macro: concentrates on recognizing discretionary investment possibilities and foretelling variations in the prices of asset classes in markets around the world.
  • Energy Trading: pursues inefficiencies in the global markets for electricity, natural gas, crude oil and refined products, and other energy-related commodities.
  • Fundamental Equities: includes traditional, activist, and event-driven investments covering a broad range of industry sectors across global markets.
  • Private Investing: involves equity and debt investments at various stages of the corporate life cycle and across the capital structure, including less-liquid opportunities in credit and related markets in the U.S. and Europe.
  • Reinsurance: concentrates on various forms of property catastrophe risk arising from natural disasters and other types of peril.
  • Renewable Energy Development: invests in, develops, and operates over two dozen solar and wind projects in the U.S.; developed the nation's first offshore wind farm.

Subsidiaries

• E. Shaw & Co. (Bermuda), Ltd.
• E. Shaw & Co. (London), LLP
• E. Shaw & Co. (Luxembourg), S.à r.l.
• E. Shaw & Co. (Asia Pacific) Limited
• E. Shaw India Private Limited
• E. Shaw Investment Management (Shanghai) Co. Ltd.

Key People

• Anne Dinning: a Managing Director of D. E. Shaw & Co., L.P. and a member of the Executive Committee of D. E. Shaw & Co., L.P. and D. E. Shaw & Co., L.L.C., Anne Dinning jointly supervises the D. E. Shaw group's worldwide asset management businesses. Dr. Dinning joined the D. E. Shaw group in 1990, after receiving a Ph.D. in computer science from New York University's Courant Institute of Mathematical Sciences.
• Eddie Fishman: Eddie Fishman is a managing director of D. E. Shaw & Co., L.P., the COO for the D. E. Shaw group, and also a part of the Executive Committee of D. E. Shaw & Co., L.P. and D. E. Shaw & Co., L.L.C., at which position Eddie jointly supervises the D. E. Shaw group's worldwide asset management businesses. 
• David E. Shaw: chief scientist of D. E. Shaw Research, LLC, David Shaw leads an interdisciplinary research group in the field of computational biochemistry and personally engages in hands-on scientific research in that field. He received his Ph.D. from Stanford University in 1980 and worked with the faculty of the Computer Science Department at Columbia University until 1986 when he left to pursue the growing scope of computational finance.

Corporate Social Responsibility

Corporate Social Responsibility Group, a grassroots program run by the staff of D.E. Shaw India Private Limited, supports employees' interests in social programs, by offering them a chance to volunteer and work together on projects in the fields of education, women’s empowerment, environment, and poverty relief. Employees' charitable donations are amplified by the Group by conducting annual fundraising events, distributing the collections to various charities.

Since 2005, D.E. Shaw and Company has also been investing in over two dozen wind and solar projects. Three industry-leading renewable energy companies have been launched by D. E. Shaw Renewable Investments (DESRI).