Sponsors Said To Explore Options For Neiman

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  • TPG, Warburg bought retailer in 2005
  • Credit Suisse said to be poised for auction
  • If no sale or IPO, perhaps a recap

Private equity firms TPG Capital and Warburg Pincus LLC are exploring a sale or a public offering of Neiman Marcus Group Inc., sister news service Reuters reported, citing a Bloomberg News report.

The private equity firms, which bought the Dallas-based retailer in 2005 for $5.1 billion, have interviewed banks and are about to hire Credit Suisse Group AG to run the dual track process, according to the report, which cited two people familiar with the situation.

A Credit Suisse spokesman declined to comment. E-mail messages to Warburg, Neiman Marcus and TPG were not immediately returned.

TPG and Warburg are in the early stages of exploring their options and if they do not find a buyer or demand is weak for an IPO, they may decide to pursue a dividend recapitalization instead, according to the report.