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Astellon Capital Partners LLP (“Astellon”) is a limited liability partnership registered in England and Wales (No. OC364020) with its registered address at 5th Floor, 100 Brompton Road, London SW3 1ER.
Astellon is authorised and regulated by the Financial Conduct Authority.


The information in this website was prepared by Astellon only for, and is directed only at, persons that qualify as Professional Clients or Eligible Counterparties under the FSA rules, including appropriate institutional investors and intermediaries. The services provided by Astellon are available only to such persons. The information in this website is not intended for the use of and should not be relied on by any person who would qualify as a Retail Client. Information displayed on this website contains material that may be interpreted by the relevant authorities in the country from which you are viewing the website as a financial promotion or an offer to purchase securities. Accordingly, the information on this website is only intended to be viewed by persons who fall outside the scope of any law that seeks to regulate financial promotions in your country of residence or in the country in which the website is being viewed. Examples of such persons may be governmental agencies, persons sufficiently experienced in investment business to appreciate the risks associated with investment services promoted on this website, large corporations and trusts and high net worth individuals. These examples are not country specific, may not be relevant to the country in which the website is being viewed and are provided for illustration purposes only. If you are uncertain about your position under the laws of your country of residence or the country in which the website is being viewed then you should consult your legal adviser.

Investment Management

The description of the investment management service and process in this website is necessarily general in nature. The terms and conditions applicable to individual investors will be set out in the applicable contract or offering document.


You should always bear in mind that:
1. The value of investments and any income from them may go down as well as up. You may not get back all of your original investment.
2. Past performance is not a reliable indicator of future results. You should be aware that indications of past performance displayed on this website will not necessarily be repeated.
3. Rates of exchange may cause the value of underlying investments to go up or down.
4. Applications to invest in any product referred to on this website must only be made on the basis of the documentation relating to the specific investment.

No Reliance

Although Astellon has taken all reasonable care to ensure that the information contained within the website is accurate at the time of the publication, no representation or warranty (including liability towards third parties), express or implied, is made as to its accuracy, reliability or completeness of such information by Astellon. Opinions and any other contents on this website are provided by Astellon for personal use and informational purposes only and are subject to change without notice.

No Advice

Nothing contained on the website constitutes investment, legal, tax or other advice nor is to be relied on in making an investment or other decision. You should obtain appropriate professional advice before making any investment decision.

No Warranty

Astellon does not warrant as to the adequacy, accuracy, reliability or completeness of any information on the website and expressly disclaims any liability for errors or omissions therein. You are responsible for evaluating the adequacy, accuracy, reliability and completeness of any information or the content available on the website.
Astellon makes no guarantee as to the adequacy, accuracy, reliability or completeness of any information on any website to which you gain access via a hypertext or other link from this website. If you are in any doubt about the information contained on this website, please contact us or consult your usual professional adviser.

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Bernd Ondruch, Founding Partner/CIO

Bernd is the Managing Partner and CIO of Astellon Capital Partners. Prior to Astellon, Bernd was Managing Director at Amber Capital in London, a New York-based event-driven hedge fund where he had responsibility for investment research in Germany, Austria, Switzerland on a country basis and for European financials on an industry-basis. Bernd was also a member of the Global Investment Committee at Amber. He has 22 years of experience in German-speaking M&A and Capital Markets. Prior to joining Amber in 2007, Bernd was a Managing Director at Morgan Stanley (London) where he was Co-Head of its FIG Investment Banking practice for Germany, Austria and CEE. Between 1997 and 1999 Bernd worked in the Investment Banking Division of JPMorgan (London) covering German industrials and financial services. He started his career in 1994 at J. Henry Schroder & Co covering German-speaking markets. During his studies he worked for Deutsche Bank’s trading operation in Frankfurt (Cash Equities Floor Trading at Deutsche Boerse and in Equity Derivatives at what is now known as Eurex).

Bernd graduated from Georg-August University of Goettingen with a Masters (Dipl.-Kfm) degree in business and economics (top quartile). He completed his studies with a post-graduate program at European Business School in Oestrich-Winkel.

Melchior von Engelhardt, Investment Analyst/Partner

Prior to joining Astellon, Melchior worked in the real estate private equity team of The Blackstone Group, primarily covering the German market. During that time, he worked on a wide range of potential private equity and debt investment opportunities in the real estate and retail industries. Before joining Blackstone in 2007, Melchior was an Analyst in the Investment Banking Division of Morgan Stanley in its Mergers and Acquisitions and Capital Markets Department in London with a focus on the Technologies industries. Melchior graduated with a Bachelor of Business Administration of the University of St. Gallen, Switzerland. He also received a Masters in Accounting and Finance from the London School of Economics.

Varun Maithel, Investment Analyst

Prior to joining Astellon, Varun was an Associate at Matlin Patterson, a distressed private equity firm based in New York, where he developed and executed a roll up of distressed credit investment companies.  Prior to that he was an Associate at Cyrus Capital Partners, a distressed debt hedge fund based in New York, where he worked on one of the first pure-play bank acquisition vehicles to secure approval from the Federal Reserve and FDIC to acquire failed banking institutions in the wake of the Global Financial Crisis.  Varun began his career as an Analyst in the Investment Banking Division of Lehman Brothers and subsequently Barclays Capital based in New York, working with the Financial Institutions Group to facilitate strategic and financial M&A transactions and capital raisings.  Varun graduated from Columbia University in New York with a Bachelor of Science degree in Computer Science and from the Wharton School of the University of Pennsylvania with a Master of Business Administration degree in Finance and Marketing.

Rainer Glatzer, Investment Analyst

Prior to joining Astellon, Rainer worked as an Investment Analyst at Senet Capital Partners, a global Long/Short Equity fund, in New York. As a generalist, he covered a wide range of sectors and focused on single-name alpha shorts across the globe. Prior to that he worked for Kane Street Capital in New York, and undertook an internship with Astellon during 2014. Furthermore, Rainer also worked as an Equity Capital Markets Analyst for Morgan Stanley where he structured and executed equity transactions in German-speaking Europe. Rainer graduated from Vienna University of Economics and Business with a Bachelor of Science in International Business Administration. He also received a Masters in Business Administration from Harvard Business School.

David Morris, Trader/Partner

Prior to joining Astellon, David was an Execution Trader at Tisbury Capital between 2008 and 2010. He started his career at Tisbury in the middle office where he was responsible for daily position and cash reconciliation, trade bookings and trade reconciliations. David also worked at Omni Partners, a London-based risk arbitrage/event-driven and macro hedge fund, with responsibility for trade support with an emphasis on corporate actions. David graduated from the University of Bath with a BSc in Politics and Economics.

Brian Coldrey, CFO/Compliance Officer

Prior to joining Astellon, Brian was the Financial Controller for Kazimir Partners (2012-2014). He also worked as a Fund Accountant for Trafalgar Asset Managers between 2008-2011. Brian is a Chartered Accountant and started his career in 2001 at KPMG in Cape Town, South Africa, as a member of the audit team. Brian graduated from the University of Cape Town with a B.Com in 1999 followed by a post graduate Diploma in Accounting in the year 2000.

Brian Mulligan, Head of Operations

Prior to joining Astellon, Brian spent 2 years as a Senior Operations Analyst at PK Investment Management LLP. Before joining PKIM he worked for Marshall Wace Asset Management for 8½ years between 2005 and 2014 as a Senior Operations Analyst. Brian held various roles within Finance in Dublin before moving to London. Brian was awarded a B.Sc. Finance from Queens University in Belfast in 1999 and is currently studying towards becoming a CFA charter holder.

Charis Duffy, Investor Relations Associate

Prior to joining Astellon, Charis spent 1½ years at Murano Connect having been promoted to Senior Investor Analyst before leaving. Charis holds a BA Hons, First Class in French Studies from the University of Birmingham having graduated in 2015.