News in brief - 2

• Mellon HBV Alternative Strategies has added a US special situations portfolio to its list of single strategy hedge funds. The fund will be managed out of New York by a team led by Michael Hawthorne and will have a broad universe of potential investments covering special situations, arbitrage and distressed situations. For a profile on Mellon HBV's European event driven strategy run by Daniel Harley, see pages 24-25 of this edition.

• State Street Global Advisors has appointed Richard Lacaille a