Stephen Chang

Chief Investment Officer and Managing Director

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

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.


Stephen is the founder of Acrewood and has served as Chief Investment Officer of LBCW, the Hamlin family office, since early 2009.


Prior to LBCW and Acrewood, Stephen spent 13 years as an investment banker focused on M&A, special situations and structured solutions at Citigroup and Deutsche Bank/Bankers Trust. During that time, 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.