Friday, 19 September 2014
Last updated 9 hours ago
Apr 17 2013 | 11:50am ET
The co-founders of Hachiman Capital Management split two years ago and shuttered the Asia-focused hedge fund. But according to one of them, the story does not end there.
Toru Ueda last month sued Yashwant Bajaj in Singapore, alleging that his former partner violated their separation agreement. According to Ueda, who now works at HFC Advisory Group, he and Bajaj agreed that each would not withdraw more than their stakes in Hachiman, and that they would each be responsible for losses they incurred, rather than the firm itself.
Ueda says Bajaj violated both of those provisions, moving US$458,965 from Hachiman to his new hedge fund, Juggernaut Capital Management, without Ueda's consent, and failing to account for a trading loss of US$247,197.
Bajaj has not yet filed his formal defense, but wrote in court papers that Ueda's claims "are wholly without basis."
Ueda is seeking at least US$365,400 from Bajaj.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.