Neiman Marcus Group Inc. has withdrawn its registration for an initial public offering, according to filing Friday with the Securities and Exchange Commission.
The Dallas-based luxury retailer is majority co-owned by alternative investment firm Ares Management and Canada Pension Plan Investment Board, Toronto, which manages the assets of the C$300.5 billion ($222.2 billion) Canada Pension Plan, Ottawa. Ares and CPPIB acquired Neiman Marcus in 2013 from private equity firms TPG and Warburg Pincus for $6 billion.
The SEC filing did not give a reason for the withdrawal. Mark Anderson, director, finance and investor relations at Neiman Marcus, could not be reached for comment by press time.
CPPIB officials declined to comment, according to spokesman Dan Madge in an e-mail. Ares executives declined to comment, spokesman Bill Mendel said in an e-mail. Ares made the investment with capital from funds in Ares Corporate Opportunities Funds series. Ares executives declined to identify the funds.
Neiman Marcus originally filed for an IPO on Aug. 4, 2015. The company reported a 7.4% decrease in total revenues to $1.08 billion in the quarter ended Oct. 29, 2016, compared to total revenues of $1.16 billion for the quarter ended Oct. 31, 2015, according to a Dec.13 news release.
