Another Billion Fund Goes Further Into Distressed Investing

Octavian Advisors, LP, a global alternative investment management firm managing over $1 Billon in assets, has hired Arif Gangat as Managing Director and Oscar Mockridge as Director to focus on international distressed debt investments.  This will be for investing in distressed debt outside of the United States, so it won’t be another distressed debt vulture buying up distressed paper inside the U.S.

CEO Richard Hurowitz believes that Octavian’s unique investing techniques amid the current turmoil in world-wide markets provide a unique opportunity on which these hires can capitalize with their expertise and experience.

• Previously, Mr. Gangat directed distressed debt and special situation equity investments at Southpaw Asset Management.
• Mr. Mockridge is a former Senior Vice President of the distressed debt and special situations division at Halcyon Asset Management and a former Senior Vice President for the financial restructuring group at Houlihan Lokey Howard & Zukin.

We are seeing more and more interest in funds going out now acting as opportunistic vulture investors.   We noted how Annaly and Chimera have a vulture and value approach for investors.

If you read through enough business history and have the power of a few billion dollars here and there, you’ll understand why. In fact, if you have the luxury of taking a very long-term outlook and don’t even watch the market on a short-term basis, you might wonder if short term trends even matter.  Take a look at our "anniversary of the crash" article.  Times are changing and markets have matured greatly since then, but you can look at the lessons of looking at distressed large companies. 

Rachel Lopez
February 6, 2008