(Reuters) Hedge fund manager Himanshu Gulati, who received startup capital from Blackstone Group LP, launched Antara Capital Partners this week with roughly $200 million in assets, people familiar with the matter said on Friday. The New York-based firm will focus on making event-driven investments and can shift to distressed investing, the people said. Blackstone wrote a $150 million check to Antara through its Strategic Alliance Fund III, a so-called seeding fund that helps incubate promising hedge fund managers who are starting out. Corbin Capital Partners also committed money to Antara, said one of the people, who were not permitted to speak publicly about the private fund. Corbin Capital is expected to add additional money over the coming year, the person said.