RiverCrest Capital, the hedge fund management firm backed by financier Sir John Beckwith that launched at the start of the year, has signed on its first two teams and is preparing to launch a fund for each, Financial News has learnt.

RiverCrest Capital, which was set up in January as a joint venture between Beckwith's private investment vehicle Pacific Investments and Rod Barker, a former partner and director of business development at International Standard Asset Management, has hired two new teams, according to two people familiar with the situation.