Calamos Asset Management plans to introduce a mezzanine debt hedge fund and will expand its existing convertible arbitrage hedge fund into a multistrategy fund. Calamos will add internally managed long-short equity and market-neutral strategies to expand the existing hedge fund, said Maryellen Thielen, director of investor relations. She did not provide the asset size for the existing hedge fund and said a timetable has not been made public for debut of the new hedge fund strategies. Overall, Calamos manages about $600 million in alternative investments. Proceeds from the firm's October 2004 $360 million IPO are being used to seed the hedge fund strategies.