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Ex-Apollo partner is said to start data-driven investment firm

  • Devin Banerjee
  • Bloomberg
  • March 06 2018, 6:30am EST

(Bloomberg) -- Former Apollo Global Management LLC partner Sachin Khajuria has started a firm using data and artificial intelligence to help find and evaluate debt and equity investments, a person with knowledge of the matter said.

Achilles Management LP, based in New York, has been investing Khajuria’s personal money after he left the private equity giant last year, said the person, who asked not to be identified because the information is private. Khajuria, 41, may seek outside capital in the future, the person said.

The firm is using both fundamental analysis and AI to predict volatility and risk in liquid credit, equities and derivatives before taking positions, the person said. It also has illiquid holdings such as limited-partner interests in funds managed by Blackstone Group LP and other private equity firms, according to the person.

Achilles, named for Greek mythology’s nearly invincible Trojan War hero with one fatal vulnerability, sees a flexible approach to debt, equity, liquidity and illiquidity as being advantageous late in a market cycle when volatility is increasing, said the person.

A representative for Khajuria declined to comment.

Khajuria exited New York-based Apollo as it was completing fundraising for what became a $24.7 billion pool, the largest ever created by a buyout manager. During his seven years at the firm, Khajuria’s work included leading a $1.4 billion deal, alongside CVC Capital Partners, for Brit Insurance Holdings NV. The firms took the insurer public in 2014 and it was bought by Fairfax Financial Holdings Ltd. the following year for $1.88 billion.

Bloomberg News