Red Alert’s primary objective is to make money. Their secondary objective though is to take down mavericks. Often via methods or in places where Maverick Hunters cannot easily get to. (Like seedier parts of cities where sight of a maverick hunter is known to cause criminals to flee. Bounty Hunters on the other hand fit right in.)
At Red Alert’s top was the former Maverick Hunter named Red. Beyond that not much was known about Red Alert’s chain of command, let alone how many other operatives they had working for them.
Red Alert being comprised of bounty hunters is not the most technologically advanced group (seeing how they often have to provide their own weapons or equipment), but they do make up for this by having a wide access to many illegal weapons and modifications to make up for any lack of technologic superiority.
Red Alert was formed after the Nightmare incident by a former maverick hunter (named Red) who left the Maverick Hunters to form his own bounty hunting company.
He built his company slowly until eventually a new reploid (Axl) joined. Axl helped Red Alert's success grow. But then Axl decided to leave after an incident (orchestrated by Sigma) to join up with the Maverick Hunters. After this incident, Red Alert was disbanded.