Nieman-Marcus, the famous U.S. department store with the reputation for service, seems to be up for sale. If a deal is done, the Canadian government’s arms-length board that administers the investments of the Canada Pension Plan (CPP) will become one of the new owners. The deal, as reported by Bloomberg News, suggests that the pension board and a firm known as Ares Management LLC, are the favoured buyers. The present owners of Neiman-Marcus, TPG Capital, Warburg Pincus LLC and Leonard Green and Partners LP are said to be ready to sell the luxury retailer. The story says the deal could be announced as soon as Monday. The Canada Pension Plan Investment Board was created by Ottawa in 1997 to administer the investments which fund the CPP. It is independent of the government but ultimately accountable to the Cabinet. Bloomberg News Will Neiman-Marcus contribute to your CPP?
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Nieman-Marcus, the famous U.S. department store with the reputation for service, seems to be up for sale. If a deal is done, the Canadian government’s arms-length board that administers the investments of the Canada Pension Plan (CPP) will become one of the new owners. The deal, as reported by Bloomberg News, suggests that the pension board and a firm known as Ares Management LLC, are the favoured buyers. The present owners of Neiman-Marcus, TPG Capital, Warburg Pincus LLC and Leonard Green and Partners LP are said to be ready to sell the luxury retailer. The story says the deal could be announced as soon as Monday. The Canada Pension Plan Investment Board was created by Ottawa in 1997 to administer the investments which fund the CPP. It is independent of the government but ultimately accountable to the Cabinet. Bloomberg News