SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* P SCHOENFELD ASSET MANAGEMENT LLC/NY (Last) (First) (Middle) 1350 AVENUE OF THE AMERICAS 21ST FLOOR (Street) NEW YORK NY 10019 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol Stream Global Services, Inc. [ OOO ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 10/14/2008
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.001 par value ("Common Stock")	10/14/2008	10/14/2008	S		4,900	D	$2.36	10,722	I	See Footnotes(1)(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants to purchase Common Stock (the "Warrants")	$6							10/17/2008	10/17/2011	Common Stock	1,163,100		1,163,100	I	See Footnotes(1)(2)

Explanation of Responses:

1. The shares of Common Stock and Warrants are held directly by PSAM WorldArb Master Fund Ltd., a Cayman Islands exempted limited company ("WorldArb"); Spartan Partners LP, a Delaware limited partnership ("Spartan"); and certain managed accounts managed by P. Schoenfeld Asset Management LLC, a New York limited liability company ("PSAM"), and P. Schoenfeld Asset Management International, a New York limited liability company ("International") which also serves as the investment adviser to WorldArb.

2. PSAM serves as the investment adviser to Spartan and certain managed accounts and, by sub-advisory agreement, has full discretion to make all investment decisions for the entities and managed accounts advised by International (and collectively with Spartan, the managed accounts and the entities advised by International, the "Accounts") with respect to the shares of Common Stock directly owned by each of the Accounts. Synapse I, LLC, a New York limited liability company ("Synapse I"), is the general partner of Spartan and has the power to direct the affairs of Spartan. Mr. Peter M. Schoenfeld ("Mr. Schoenfeld") serves as the managing member of PSAM and International with respect to the shares of Common Stock directly owned by the Accounts. PSAM, Mr. Schoenfeld, WorldArb, Synapse I, Spartan and International disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein.

	/s/ P. Schoenfeld Asset Management LLC; By its managing member Peter M. Schoenfeld	10/27/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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