Equity Group Investments is a private investment firm specializing in opportunistic, often complex and contrarian, investments across industries, in public or private companies, with controlling or non-controlling interests, in debt or equity, short- or long-term, at any point in the economic cycle. Founded by Sam Zell in 1968, the firm's multi-billion dollar investment portfolio includes businesses in transportation and logistics, energy, waste and infrastructure, manufacturing, communications, healthcare, agribusiness, insurance, and real estate. Zell also maintains substantial interests in, and is the Chairman of, several public companies listed on the New York Stock Exchange, including Equity Residential (EQR), an apartment real estate investment trust (or REIT; Equity LifeStyle Properties (ELS), a manufactured home and resort community REIT; Equity Commonwealth, an office REIT; Covanta Holding Corporation, an international owner/operator of energy-from-waste and power generation facilities; and Equity Distribution Acquisition Corp, a special purpose acquisition company (SPAC) targeting opportunities to apply technological advancement within the industrial industry. Within direct investments, Equity Group Investments invests in distressed, stand-alone capital restructuring, middle market, later stage, mature, turnaround, late venture, PIPEs, bridge, buyout, recapitalization, growth capital, and turnaround investments in large companies. Within fund of fund, the firm invests in private equity funds, venture capital funds, mezzanine funds, hedge funds, and secondary investments.