Timing May Be Right for Neiman Marcus IPO
Neiman Marcus Inc. appears headed for an initial public offering, with owners TPG Capital, formerly called Texas Pacific Group, and Warburg Pincus itchier than ever to cash in on their investment.
The question is when, according to retail and financial sources, who this week were eagerly speculating about NM’s future amid reports that Credit Suisse is exploring different financial scenarios.
Representatives at TPG, Warburg Pincus and Credit Suisse declined comment Monday. The bank already has ties to the Dallas-based luxury retailer, however. Susan Schnabel, who is a managing director at Credit Suisse and cohead of the affiliated DLJ Merchant Banking Partners, sits on Neiman’s board, although she has no involvement with Credit Suisse’s investment banking business.