A pair of hedge fund veterans have gone into business together, launching their own firm in London with plans for their maiden fund's debut later this year.
Former Amber Capital managing director Bernd Ondruch and former Laxey Partners fund manager Christian Vogel-Claussen have founded Astellon Capital Partners, HFMWeek reports. The new firm plans to launch its Special Opportunities Fund in September and has some US$300 million in assets under management lined up for its first fund.
The event-driven vehicle will focus on Europe. It will charge 2% for management and 20% for performance with no lockup and monthly liquidity with 60 days' notice.
At Amber, Ondruch covered Germany, Austria and Switzerland and was a member of the firm's global investment committee. He formerly worked at Morgan Stanley, covering Central and Eastern Europe.
Vogel-Claussen covered the same countries as Ondruch at Laxey, which he joined after a stint at Morgan Stanley covering media and telecommunications.