URDANG, part of BNY Mellon Asset Management, has completed the sale of two business centers in Marietta, Georgia, totaling 619,628 square feet for $48 million to CCI-B Marietta, LLC, a partnership formed by Capital Commercial Investments, Inc.  The 14 multi-tenant buildings in the Atlanta suburb sold by Urdang Capital Management also house medical, retail and warehouse operations.

BNY Mellon Asset Management has named Jeffrey B. Saef director of multi-strategy investment solutions.  Saef, who reports to Phil Maisano, chief investment strategist, is responsible for developing integrated solutions for U.S. clients that combine investment strategies from the asset manager’s investment boutiques.

The Bank of New York Mellon today confirmed that it has been selected by the U.S. Department of the Treasury to provide a broad range of services to support the government's Troubled Asset Relief Program authorized under the Emergency Economic Stabilization Act. Treasury has hired the company to provide the accounting of record for the portfolio, hold all cash and assets in the portfolio, provide for pricing and asset valuation services and assist with other related services. The Bank of New York Mellon will serve as auction manager and conduct reverse auctions for the troubled assets.

The U.S. government announced that it is investing $250 billion in a broad range of financial institutions in an effort designed to restore confidence and stability in the world's financial markets. As the world's leading securities servicing and asset management firm, The Bank of New York Mellon will be part of the initial group of nine institutions in which the U.S. government is purchasing an equity stake.

BNY Mellon Asset Management has bolstered its client relationship team with the appointment of Simon Putt as Director, Head of UK Institutional Client Relationship Management.

Newton Investment Management has announced the appointment of Karen Clark as Director of Investment Management for its private client division.

The Bank of New York Mellon Corporation said today that as a result of recent market events, it will provide support to clients invested in money market mutual funds, cash sweep funds and similar collective funds impacted by the Lehman Brothers bankruptcy filing.

Standish, part of BNY Mellon Asset Management, is seeing increased interest in Standish Workout Solutions, a global corporate and structured finance advisory business launched in June that provides guidance to institutional investors in assessing the risk and value of mortgage and asset-backed securities, collateralized debt obligations (CDOs), structured investment vehicles (SIVs) and other structured and corporate finance investments.

The Bank of New York Mellon said today that because of its fiduciary role as a corporate trustee for Lehman debt issues, the company is on the seven-member creditors committee in Lehman's bankruptcy proceedings. The company has no outstanding loans to Lehman.

The Bank of New York Mellon's policy is not to comment on individual client relationships, but the Corporation is clarifying inaccurate information circulating in the marketplace regarding our association with Lehman Brothers.

The Bank has announced that the Spanish, Portugese and Andorran operations of BNY Mellon Asset Management and WestLB Mellon Asset Management are being integrated into one group.  Sasha Evers, Managing Director of BNY Mellon Asset Management Iberia, will lead this newly-formed Madrid-based team and represent the managers and products of both BNY Mellon Asset Management and WestLB Mellon Asset Management in Iberia.

Mellon Capital Management Corporation, a quantitative investment boutique, announced the launch of its newest strategy as it celebrates its 25th anniversary. Its newest strategy, Advanced Beta, invests in a broad range of global asset classes in an effort to enhance performance regardless of the economic environment. The strategy takes long positions in global equities, global fixed income, global inflation-linked securities, commodities and global real estate investment trusts (REITs).

Urdang, in a joint venture with The ConAm Group of Companies has completed the acquisition of Rosemeade at Olympus Pointe, a 465-unit apartment complex in Sacramento, CA. Urdang invested its portion of the equity in the acquisition through UVAF II, a real estate investment vehicle formed to acquire a diversified portfolio of value-added properties throughout the United States. UVAF II raised a total of $463 million in equity and has approximately $1.3 billion in leveraged purchasing power. The fund primarily targets office, retail, multifamily and industrial properties with $20 million to $75 million of total capitalization in locations throughout the United States. To date, the fund has acquired nine properties with an aggregate capitalization in excess of $500 million.

According to research by Newton Investment Management, UK equities continue to be an attractive long-term investment despite the current market volatility. Research suggests holding UK equities for a period of more than eight years during the last 108 years, has not only produced higher real returns than gilts, but also with lower deviation*. Even during periods of short-term volatility in equities, such as the stock market crash of 1929, or the bursting of the tech bubble in 2000, equity market performance has tended to even out over time.

The Dreyfus Corporation announced today that Dwight Jacobsen has joined Dreyfus as Executive Vice President and Head of Intermediary Sales.