Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg News

Hedge Fund Manager Ueda Sues Ex-Partner Yashwant Bajaj

April 16, 2013

Toru Ueda, co-founder of hedge-fund firm Hachiman Capital Management, sued his former partner Yashwant Bajaj, claiming he was shortchanged after the two decided to shut the company.

Bajaj transferred $458,965 from Hachiman to his Juggernaut Capital Management Pte without Ueda’s consent, according to Ueda’s lawsuit filed at the Singapore High Court last month. Bajaj also incurred a trading loss of $247,197, which wasn’t accounted for, Ueda said in his complaint.

The two men had an agreement preventing them from withdrawing more than their stakes in the company that they founded in 2004, according to the complaint. The duo decided to part ways in September 2010 and agreed that from March 29, 2011 each would be responsible for any losses from their individual investments and not the company, Ueda said in the lawsuit.

“The claims against me are wholly without basis,” Bajaj, who hasn’t filed his defense, said in court papers. Bajaj, a former Lehman Brothers Holdings Inc. managing director, declined to comment on the lawsuit. A closed hearing is scheduled for today.

Total assets under management for Asian hedge funds fell 7.8 percent to $135.5 billion in 2012, underscoring the challenges in raising capital, according to Singapore-based GFIA Pte, which advises on hedge-fund investments.

Ueda, now a senior adviser with Tokyo-based HFC Advisory Group, is seeking at least $365,400 compensation from Bajaj.

The case is Toru Ueda v Yashwant Bajaj. S205/2013. Singapore High Court.

To contact the reporter on this story: Andrea Tan in Singapore at

To contact the editor responsible for this story: Douglas Wong at

blog comments powered by Disqus