Ares-Owned Neiman Marcus Going Public

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Century City private equity and debt giant Ares Management could be in line for another big payday.

Neiman Marcus Group Inc., the Dallas luxury retailer and an Ares portfolio company, filed for an initial public offering Tuesday with plans to raise $100 million. Ares, along with a Canadian pension fund, bought the company for $6 billion in 2013.

Documents filed with the Securities and Exchange Commission on Tuesday indicate the size of the offering could reach $100 million, though the documents do not include information about how big a stake Ares and the Canada Pension Plan Investment Board plan to sell.

Neiman Marcus plans to trade on the New York Stock Exchange under the symbol NMG. The company brought in $4.8 billion in revenue last year.

The deal could be another big windfall for Ares, which last year took portfolio company Smart & Final Stores Inc. public in a deal that valued the Commerce warehouse grocery chain at more than $900 million, about three times the amount of cash Ares used to buy the company in 2012.

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