A method and apparatus for launching and recovering an object by a host vessel while the host vessel is in motion. The recovery system utilizes a tethered capture system for connecting with the object and then directing the object to the host vessel where it is secured. The tethered capture system includes one or more side planers that direct a capture cable away from the host vessel. The capture cable is preferably disposed below the waterline through the use of a diving rig or extended cable struts so that the cable does not foul the propeller of the object to be recovered. The side planer itself may include a ramped surface for loading the object prior to securing to the host vessel. After the capture, the object may be secured by way of a boom attached to the host vessel or by a lifting cradle that selectively extends aft of the host vessel.