an additional $7 billion in client redemption requests. Overall impact D. E. Shaw's total assets under management fell from a high of $34 billion in 2007 to $21 billion in 2010. The company had laid off 10% of its workforce by that time. 2019 - Non-compete agreements In September 2019, D. E. Shaw required all of its employees to sign non-compete agreements, which was traditional for the finance industry but not previously required at the firm, and received some backlash from those at the company. Investment strategy The company manages a variety of investment funds that make extensive use of quantitative methods and proprietary computational technology to support fundamental research in the management of its investments. The company also uses qualitative analysis to make private equity investments in technology, wind power, real estate, financial services firms, and distressed company financing. In addition to its financial businesses, D. E. Shaw & Co. has provided private equity capital to technology-related business ventures. Examples include Juno Online Services, an Internet access provider, and Farsight, an online financial services platform that was acquired by Merrill Lynch. Assets under management Size of assets The company had $40 billion in aggregate capital and $15.6 billion in hedge fund assets under management as of 2011. However as of June 1, 2021, the company had $55 billion in assets under management, $35 billion of which are alternative investments and the remaining $20 billion long-oriented investments. It was ranked as the 21st-largest hedge fund by Institutional Investor. While in 2020, D. E. Shaw & Co. was ranked as the 10th largest Hedge Fund globally as measured by discretionary assets under management. Private equity U.S. based In 2004, a subsidiary of one of the company's funds acquired the toy store FAO Schwarz out of bankruptcy. FAO Schwarz reopened for business in New York and Las Vegas in the fall of 2004. In the same year, D. E. Shaw affiliate Laminar Portfolios acquired the online assets of KB Toys, which continued operating as eToys.com. In 2006, the Financial Times reported the firm's involvement as potential financing and investment partners for Penn National Gaming (the casino and racetrack company) as an example of the breadth of Wall Street firms' involvement in the "private equity boom," describing D. E. Shaw as "a hedge fund group." The financing was required as Penn National Gaming had a market value of $3.3 billion (2006) and $1.4