NEW YORK (HedgeWorld.com)–Mellon HBV Alternative Strategies LLC, a manager of distressed securities and other arbitrage strategies, will offer new convertible arbitrage hedge funds as of the first of August.

The firm has acquired two long-established vehicles, namely Sparta Partners LP, managed by Stuart Dubson, and Parlon Interhedge Fund Ltd., run by John Ginsbury. Sparta Partners was established more than five years ago, and Parlon has been around for more than three years.

Messrs. Dubson and Ginsbury now work out of the Mellon HBV office in New York.

Mr. Dubson was a managing member of S.D. International Management, and Mr. Ginsbury was with Manco Ltd., a Cayman Island’s company. These firms have merged with Mellon HBV, itself part of Mellon Financial Co. The mergers were advised by Edward O’Hara, president of Greenwich Alternative Capital LLC.

CKurdas@HedgeWorld.com