Retail property funds management group Real Estate Capital Partners (ReCap) has recruited experienced sales and marketing executive David Adiseshan and moved into the equities market with a new subsidiary, Quattro Asset Management.

Quattro will focus on alternatives product, initially for the retail market, based on hedge funds distributed by its Hong Kong alliance partner, Sun Hung Kai Financial. Andrew Saunders, ReCap chief executive, will also be chief executive of Quattro. Adiseshan is an executive director. The first product, to be launched next week, is a capital-guaranteed fund called Vault 08. The underlying managers of the fund are five UBS global investment strategies. Saunders said that Quattro was likely to have an institutional offering in due course. “This is an evolutionary process,” he said. Adiseshan said that he has spent the last four years in the “mid-market space” between institutional and retail, first with Allco Finance Group and most recently with Ray White Invest. Prior to that he had been an institutional marketer. ReCap is controlled by the listed Mulpha Group of Malaysia.