Laurence Chang is responsible for directing the investment activities of the Avenue Asia Equity Funds. Previously, Mr.
Chang was a Vice President at Merrill Lynch Investment Managers in Plainsboro, New Jersey, where he helped manage the $1.5 billion Merrill Lynch Global SmallCap Fund, rated one of the best performing in its asset class by Morningstar three years in a row. Previously, Mr. Chang was Senior Vice President and Co-Portfolio Manager at Pacific Capital Management in Hong Kong. Prior to that, he was investing in long-short Asian equities at The Pacific Group in Hong Kong, partially-owned by the U.S.-based hedge fund Tiger Management. Previously, Mr. Chang was Senior Manager at HSBC Asset Management in Hong Kong, where he helped raise and manage several of the earliest closed-end funds investing in China in the early '90s. Mr. Chang received an M.B.A. from the Stanford University Graduate School of Business (1995) and a B.A. degree in English from Harvard College (1989), where he graduated magna cum laude.