Arif Gangat was named managing director at alternative investment manager Octavian Advisors and Oscar Mockridge was named director. The new positions are part of an expansion of the firms non-U.S. distressed debt investment team, said spokeswoman Mary Beth Grover. Mr. Gangat was managing director at hedge fund manager Southpaw Asset Management, where he managed distressed debt and special situations equity securities. Howard Golden, Southpaw co-founder and portfolio manager, did not return a call seeking information about Mr. Gangats replacement. Mr. Mockridge was a senior credit analyst in the leveraged finance strategy team of hedge fund manager Sailfish Capital Partners. A decision has not been made about replacing Mr. Mockridge, said Mitch Ackles, a Sailfish spokesman.