Integre Advisors, a money management firm, has hired Dan McCarthy and Nels Wangensteen as principals and portfolio managers. Both McCarthy and Wangensteen were previously managing directors and portfolio managers at Neuberger Berman. "I have known Dan and Nels for years, and they are top-class investors, says Manny Weintraub, founder of Integre Advisors and a former managing director at Neuberger Berman. "Their thoughtful, growth-oriented investment strategies are very complementary to the work that Integre does, and we are thrilled to have them join our team," he says.
Integre's investment strategy focuses on digital delivery of services for consumers, says McCarthy. Instead of owning companies that manufacture tech products, it focuses on companies that use internet technology to develop new consumer applications, he says. "For example, we noticed a few years ago that internet usage was growing faster outside the US, so we followed the digital delivery model into China. Internet applications serving the Chinese consumer now represent about 20% of our portfolio," McCarthy notes.