Tresidor Investment Management, a London-based hedge fund startup, has raised a $200 million investment from New York-based private equity firm Blackstone Group.

The startup will focus on trading securities such as European high-yield bonds, leveraged credits, convertible bonds, and sovereign debt.

Tresidor seeks eventually to raise about $1.25 billion.

The startup was also backed by Lansdowne Partners's former chairman who will join as a non-executive chairman on the deal.