Octavian Advisors, the New York-based $1.1 billion special situations shop, has made a pair of hires, appointing Arif Gangat as managing director and Oscar Mockridge as director. Both will specialize in distressed debt investments outside the U.S.

Gangat joins from Southpaw Asset Management where he oversaw distressed debt and special situation equity investments, while Mockridge comes from fast-sinking Sailfish Capital Partners, where he was responsible for leveraged finance research and activist investing.

“I have worked with both Arif and Oscar for over six years and their analytical and risk management skills will be a tremendous asset as we continue to expand our worldwide distressed investing capabilities,” said Richard Hurowitz, co-founder and CEO.

Octavian Advisors is a 21-person global alternative investment firm active in several alternative investment strategies including distressed debt, special situations opportunities, non-traditional assets, and private transactions, and is a provider of merchant capital worldwide.