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May 15, 2015


Virginia Retirement System Gets a New Chairman

The Virginia Retirement System is a 50 plus year old system. It replaced the previous two systems, the Retired Teacher Fund (1908) and the Virginia Retirement System (1942). The first retirement system was small and only dealt with the pensions of retired teachers. The second retirement system replaced the original system and broadened its operations to handle retirement funds of teachers and state employees. Barely two years after the creation of the second retirement system, in 1944, this system underwent revisions and expanded its purview to include city and district employees. This system is still in use today and is managed by a board of trustees. The board is headed by a chairman who is selected by the Governor of the state.

The Virginia retirement system was under the care of chairperson Diana Cantor, who is stepping down. Virginia Governor, Terry McAuliffe has announced that Robert Greene will replace her as Chairman of the Virginia Retirement System board.

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NAIC Member Spotlight

Firm Description
Headquartered in Boston, MA, with local offices in New York City, Miami and Dallas, Mansa Capital is a private equity firm focused on the $2.5 trillion healthcare sector in the US including Puerto Rico and the US Virgin Islands. The firm uses its expertise in healthcare policy and economics to help management teams grow top line revenues and develop new products that build exceptional value. Mansa Capital’s principals bring to the firm extensive expertise in healthcare operations, marketing and finance including senior-level experience in healthcare compliance, regulation and reimbursement. The team has distinctive knowledge in the early identification of innovative business models that enable patients and providers to thrive in the post-healthcare reform environment. The firm also has special insights in the largely untapped Hispanic healthcare market.

Ruben J. King-Shaw Jr. is Managing Partner and Chief Investment Officer. He also Chairs the firm’s Investment Committee. Ruben directs the firm's deal sourcing activities, oversees the firm's value creation strategies and manages the firm’s Investor Relations functions.

Member Since

Deal Announcements
Mansa Capital acquires controlling interest in Accreon, Inc., invests $5.5 million to accelerate growth, recruits top executives to the board
Mansa Capital announced on April 7, 2015, that it completed the acquisition of Accreon, Inc., a Boston-based healthcare technology and services company that integrates and manages health information. Mansa Capital invested $5.5 million in Accreon, along with the company’s new management team and original founders, to finance the acquisition. The capital will enable Accreon to accelerate its growth in the United States and enhance its position as a market leader in Canada.

Skipta Secures $2.5M in Series A Funding From Boston-Based Mansa Capital
In February 2015, Mansa provided a $2.5 million in Series A investment into Skipta, a leading provider of online specialty and disease state medical communities for verified healthcare professionals. The funding will be used to accelerate network development, increase community membership, and expand the company’s executive team. Skipta manages a network of 28 niche online medical communities, each representing a specialty or disease state.

HealthPrize Technologies Closes First Institutional Financing Round Led by Mansa Capital
Mansa invested $3 million in HealthPrize Technologies, a leader in digital health solutions for medication adherence and patient engagement, in August 2014. Mansa also has a right to increase its investment by an additional $2 million through July 31, 2015. HealthPrize creates and manages customized digital patient engagement and adherence programs across diverse medical conditions and demographic groups. Its current customers are global pharmaceutical companies, including a number of top-20 global pharmaceutical companies.

Healthsense Closes $10 Million Financing with Boston-Based Mansa Capital
In August 2014, Healthsense, Inc., the fastest growing provider of technology-enabled care solutions for the senior care continuum, announced that it has closed on $10 million in financing led by Mansa Capital. Healthsense helps senior care providers and managed care organizations significantly reduce costs, increase independence and enhance caregiver and senior experiences.

What's Next
Mansa expects to launch its next growth equity healthcare fund (Mansa II) in Q4 2015 or Q1 2016. That fund may be paired with an SBIC, pending completion of the SBA's licensure and approval process. In the meantime, Mansa has established co-investment and separate account platforms for its current and new investors with immediate interest in providing capital to innovative companies which are flourishing in the booming US healthcare economy.

Upcoming NAIC Event

NAIC 45th Annual Meeting & Convention

NAIC's 45th Annual Meeting & Convention will be held October 5-6, 2015 in New York, NY. Please save the date for this unique event that highlights the performance of diverse and emerging managers and examine best practices in the private equity industry. The agenda will include a diverse lineup of panels, guest speakers, and general sessions that will address significant industry issues, trends, challenges, and opportunities.

Convention Location
Bank of America Tower at One Bryant Park
592 Fifth Ave
New York, NY 10036

Awards Reception & Gala
Museum of Modern Art
11 W 53rd Street
New York, NY

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Please mark your calendar for the 2015 GCM Grosvenor Small and Emerging Managers Conference on Private Equity, Hedge Funds, Real Estate and In-State Investments.

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7th Annual Women's Alternative Investment Summit

The 7th annual Women's Alternative Investment Summit will be held Thursday and Friday, November 5 - 6, 2015, at The Pierre, New York City. More than 400 of the top women in private equity and alternatives — fund managers, institutional investors and advisors to the industry — will gather in New York for this timely, indispensable industry conference. Join us for a unique opportunity to build trusted networks that provide access to raise funds, generate deals, manage the portfolio, realize exits, and advance your firm.

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