Few portfolio managers in the industry have had a tenure as long as Kathleen McCarragher, managing director and head of growth equity at Jennison Associates. Prior to joining Jennison, she held investment roles at State Street Research & Management and Weiss, Peck & Greer.
She joined Jennison in 1998 and manages the firm’s flagship large-cap growth strategy, leading an investment team of 15 spanning several sectors, including technology, consumer, financials, healthcare and industrials. As of June 30, Jennison had $210 billion in assets under management.
“I think this is one of the best businesses to be in,” she said. “Being a growth stock manager means that we are constantly looking forward. We are constantly learning and improving our understanding of our world and how industries create value. It’s exciting to be in a business where I am asked to learn every day.”
Forty years ago, there weren’t a lot of women on Wall Street, which put McCarragher in a unique position. “One way you could stand out was with the work you did. The success of your investment ideas is measurable and you can be rewarded for being an independent thinker. That’s been important to my early and continued success in this field.”
McCarragher is also leveraging that success to help others. As a leader, she gives women “stretch” opportunities to elevate their careers. She's also on the Jennison management team where she sponsors and supports employee resource groups to advance Jennison’s culture and vision.
“As a growth equity manager, I’m very motivated by identifying sources of value and innovation both in the firm and in the companies we invest in,” she says. “Many things have changed over the years but the core thesis of being a long-only investor hasn’t changed: Identify true sources of lasting value and the performance will follow.”