Ex-Apollo Partner's Fund Returns 30% in First Year

(Bloomberg) -- Sachin Khajuria, who left his role as Apollo Global Management LLC partner last year to create his own fund, picked a good time to go it alone.

Khajuria’s Achilles Management LP posted a return of 30 percent in its first year, according to a person with knowledge of the matter, who asked not to be identified discussing private fund performance. Khajuria, who left Apollo after seven years at the private-equity firm, is considering seeking outside capital given the fund’s performance, said the person.

The fund uses a variety of strategies, including distressed-debt investments and event-driven trades in equity and credit markets, said the person. The return figure doesn’t include illiquid holdings such as limited-partner interests in funds managed by Blackstone Group LP and other private equity firms, the person said.

A representative for Achilles didn’t immediately respond to a request for comment.

Achilles targets industries including financial services, technology and infrastructure, the person said. The firm seeks to use artificial intelligence in addition to fundamental analysis to help manage risk and identify opportunities.

Before joining Apollo, Khajuria worked at firms including Quadrangle Group, Macquarie Group Ltd., Merrill Lynch and Morgan Stanley. Khajuria exited New York-based Apollo as it was completing fundraising for what became a more than $24 billion pool, the largest ever created by a buyout manager.

To contact the reporter on this story: Sonali Basak in New York at sbasak7@bloomberg.net

To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Dan Reichl

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