AlphaShares LLC, the index creator and fund manager that invests in Chinese stocks co-founded by Princeton University economist Burton Malkiel, sold its investment unit to the company’s executives.
Baochuan Capital Management LLC will oversee hedge funds that invest in the world’s most populous nation, while AlphaShares will continue creating and licensing indexes for exchange-traded funds, according to Kevin Carter, a co-founder AlphaShares who will be Baochuan’s CEO. Malkiel will be Baochuan’s chief investment officer and chairman of the AlphaShares Index Committee. The firms, which together manage $600 million and are both based in Walnut Creek, California, didn’t disclose terms.
