Stephen Chang

Chief Investment Officer

Managing Director

As Chief Investment Officer, Stephen manages LBCW’s portfolio of assets and develops the firm’s investment strategies. Stephen is also responsible for the management of the firm.

Prior to LBCW, Stephen spent 13 years focused on M&A, special situations and structured solutions at Citigroup and Deutsche Bank/Bankers Trust. As a banker, he led over 35 transactions including public and private M&A, spin-offs and carve-outs, pre-packed bankruptcies and restructurings, as well as unique capital market monetizations that twice earned recognition as “Deal of the Year” in the trade press. Stephen was named one of Trusted Insight’s “Top 30 Family Office Investors” for 2016.

Prior to his career as an investment banker, Stephen founded and successfully sold two private software companies to public acquirers. Currently Stephen serves on the boards of:

  • Blackstreet Capital Holdings, a diversified investment holding company focused on acquiring underperforming, shrinking, or limited growth companies from out-of-favor industries, corporate carveouts, or lender distress and other special situations

  • Rizk Ventures, a value-added principal investment and advisory company, focused on delivering strategic capital, management expertise, and technology solutions to uniquely positioned companies in healthcare and real estate

  • New Era Ltd., a publicly-held diversified IT services concern 

  • Cendana Capital, a micro-VC / super-angel fund manager

  • Elegantree Fund, a bank regulatory arbitrage hedge fund managed by Orchard Capital Group

  • Lafayette Homes, a single family home buy-to-lease partnership

  • Akkadian Ventures, a secondary buyer and liquidity provider for high profile pre-IPO tech concerns

  • Beijing Capital Group IV a private equity fund developed to invest alongside the Chinese city’s municipal government

Stephen received an AB cum laude in Applied Mathematics from Harvard University and an MBA in Finance from the Wharton School at the University of Pennsylvania.

© 2020 by LBCW LP.