RiverCrest Capital, launched in January, has put in place its first two teams and is preparing to launch a fund for each, Financial News reports. The first team, comprising Alastair MacLeod and Peter Simon, will launch the RiverCrest Global Equity fund, a directional thematic long/short equities fund with a top-down investment approach, in October. RiverCrest has appointed former M&G Investments fund managers Giles Worthington and Tim Short for the second team, which may launch the RiverCrest European Equity Alpha fund towards the end of 2011. The hedge fund management firm, backed by financier John Beckwith, is planning to sign on more teams to eventually offer to clients a range of investment strategies, including systematic, discretionary global macro and credit.
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