The 2025 Investment Day | 2025 Family Office Summits | Family Office Circle
Investment / Alternatives Summit - March / Oct / Nov
Investment Day - March / July / Sept / Oct / Nov
Private Wealth Summit - April / Oct / Nov
Family Office Summit - April / Oct / Nov
View Events | Register
This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $30 billion.
Parent of Saks Fifth Avenue HBC to Buy Luxury Retailer Neiman Marcus Group for $2.65 Billion in Merger Acquisition to Form Saks Global, Neiman Marcus Group Owns Neiman Marcus & Bergdorf Goodman
10th July 2024 | Hong Kong
Parent of Saks Fifth Avenue HBC has announced to buy luxury retailer Neiman Marcus Group for $2.65 billion in merger acquisition to form Saks Global. Neiman Marcus Group owns Neiman Marcus & Bergdorf Goodman. Saks Fifth Avenue is the leading name in luxury shopping. Announcement (4/7/24): “HBC, parent company of Saks Fifth Avenue, has entered into a definitive agreement to acquire Neiman Marcus Group (“NMG”), parent company of Neiman Marcus and Bergdorf Goodman, for a total enterprise value of $2.65 billion. Upon transaction close, HBC will establish Saks Global, a combination of world-class luxury retail and real estate assets, including Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus and Bergdorf Goodman, each of which will continue operations under their respective brands.” Neiman Marcus Group (NMG) is the parent company of leading U.S. multi-brand luxury retailers Neiman Marcus and Bergdorf Goodman. Saks Fifth Avenue is the leading name in luxury shopping. HBC is a holding company of investments and businesses at the intersection of technology, retail operations, and real estate. It is the majority owner of iconic ecommerce companies: Saks, a leading online destination for luxury fashion, and Saks OFF 5TH, a premier luxury off-price ecommerce company offering top brands at the best prices. These businesses were established as separate operating companies in 2021. HBC also wholly owns Hudson’s Bay, a leading premium retailer in Canada operating a national network of stores and TheBay.com, as well as SFA, the operator of Saks Fifth Avenue’s physical locations, and O5, the operating company for Saks OFF 5TH stores. With assets spanning top markets and prime locations across North America, HBC owns or controls—either entirely or with joint venture partners—approximately 42 million square feet of gross leasable area. HBC Properties and Investments, the company’s real estate and investments portfolio business, manages these assets along with additional real estate offerings, including Streetworks Development, its property development division. Founded in 1670, HBC is North America’s longest continuously operating company, with headquarters in New York and Toronto.
” Parent of Saks Fifth Avenue HBC to Buy Luxury Retailer Neiman Marcus Group for $2.65 Billion in Merger Acquisition to Form Saks Global, Neiman Marcus Group Owns Neiman Marcus & Bergdorf Goodman “
Caproasia Access | Events | Summits | Register Events | The Financial Centre
The 2025 Investment Day | 2025 Family Office Summits | Family Office Circle
Basic Member: $5 Monthly | $60 Yearly
Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680)
Hong Kong | Singapore
March / July / Sept / Oct / Nov
Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Join 20+ CIOs & Senior investment team, with > 60% single family offices with $300 million AUM. Taking place in Hong Kong and in Singapore. Every March, July, Sept, Oct & Nov.
Visit | Register here
10th April & 16th Oct Hong Kong Ritz Carlton | 24th April & 6th Nov Singapore Amara Sanctuary Resort
Join 80 single family offices & family office professionals in Hong Kong & Singapore
Links: 2025 Family Office Summit | Register here
March / Oct / Nov in Hong Kong & Singapore
Join leading asset managers, hedge funds, boutique funds, private equity, venture capital & real estate firms in Hong Kong, Singapore & Asia-Pacific at the Investment / Alternatives Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
April / Oct / Nov in Hong Kong & Singapore
Join CEOs, CIOs, Head of Private Banking, Head of Family Offices & Product Heads at The Private Wealth Summit. Join as delegate, speaker, presenter, partner & sponsor.
Visit | Register here
Saks Global – Upon closing of the transaction, Saks Global will comprise the Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus and Bergdorf Goodman brands, which will continue operations under their respective brand names. Saks Global will also include HBC’s U.S. real estate assets and Neiman Marcus Group’s real estate assets, creating a $7 billion portfolio of well-located retail real estate assets in top-tier luxury shopping destinations. Ian Putnam, currently President and CEO of HBC Properties and Investments, will become CEO of Saks Global Properties and Investments, which will manage, maximize and enhance the company’s robust portfolio of assets. Both Mr. Metrick and Mr. Putnam will report to Mr. Baker, who will serve as Executive Chairman of Saks Global.
HBC’s Canadian Retail and Real Estate Assets – Upon closing of the transaction, HBC’s Canadian business will be recapitalized as a standalone entity, separate from Saks Global, with significantly reduced leverage and enhanced liquidity. HBC will continue to wholly own its Canadian retail and real estate assets, including Hudson’s Bay, which operates TheBay.com and the Hudson’s Bay network of stores, as well as a CAD$2 billion real estate portfolio. As a result, HBC’s Canadian business will be well positioned to support future growth, while continuing to serve its loyal Canadian customer base.
Transaction Details – The Boards of Directors of HBC and Neiman Marcus Group have approved the transaction. The transaction is subject to the receipt of required regulatory approvals, and other customary closing conditions. Until closing, the companies will continue to operate separately. The purchase price is expected to be funded by a combination of equity capital from new and existing shareholders and debt facilities. Amazon will be an investor in and work with Saks Global to innovate on behalf of customers and brands partners following the close of the transaction. Rhône Capital, a transatlantic middle-market private equity firm and affiliated investment entities, will continue as the active lead investor in Saks Global. Global software investor, Insight Partners, an investor in Saks.com, will be a shareholder in the new company. Salesforce will also become an investor at closing. HBC has secured a $1.15 billion fully committed term loan financing from investment funds and accounts managed by affiliates of Apollo, and a $2 billion fully committed revolving asset based loan facility from Bank of America (lead underwriter), Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo. The transaction deleverages the combined enterprise while ensuring that Saks Global, on a pro forma basis, will have significant liquidity.
About HBC – HBC is a holding company of investments and businesses at the intersection of technology, retail operations, and real estate. It is the majority owner of iconic ecommerce companies: Saks, a leading online destination for luxury fashion, and Saks OFF 5TH, a premier luxury off-price ecommerce company offering top brands at the best prices. These businesses were established as separate operating companies in 2021. HBC also wholly owns Hudson’s Bay, a leading premium retailer in Canada operating a national network of stores and TheBay.com, as well as SFA, the operator of Saks Fifth Avenue’s physical locations, and O5, the operating company for Saks OFF 5TH stores. With assets spanning top markets and prime locations across North America, HBC owns or controls—either entirely or with joint venture partners—approximately 42 million square feet of gross leasable area. HBC Properties and Investments, the company’s real estate and investments portfolio business, manages these assets along with additional real estate offerings, including Streetworks Development, its property development division. Founded in 1670, HBC is North America’s longest continuously operating company, with headquarters in New York and Toronto.
About Saks Fifth Avenue – Saks Fifth Avenue is the leading name in luxury shopping. Since 1924, the brand has maintained a reputation for delivering an expertly curated assortment of fashion and highly personalized service. The Saks Fifth Avenue experience offers seamless all-channel shopping through an elevated digital platform and in-person services provided by an extraordinary network of 39 Saks Fifth Avenue stores across North America.
About Neiman Marcus Group (NMG) – NMG is the parent company of leading U.S. multi-brand luxury retailers Neiman Marcus and Bergdorf Goodman. The company successfully transformed itself into a profitable luxury relationship business by Revolutionizing Luxury Experiences for customers, brand partners, communities, and associates. Its differentiated business model is anchored around integrated retail, an expertly curated product assortment, and a sales-assisted approach. The company’s culture of Belonging, powered by its 10,000+ associates, celebrates the individual talents that form its collective strength. NMG WOW, its unique and flexible integrated working philosophy empowers associates to do their best work.
Parent of Saks Fifth Avenue HBC to Buy Luxury Retailer Neiman Marcus Group for $2.65 Billion in Merger Acquisition to Form Saks Global, Neiman Marcus Group Owns Neiman Marcus & Bergdorf Goodman
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.
Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services.
Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at angel@caproasia.com or mail@caproasia.com
Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?
The 2025 Investment Day | 2025 Family Office Summits | Family Office Circle
2020 List of Private Banks in Hong Kong
2020 List of Private Banks in Singapore
2020 Top 10 Largest Family Office
2020 Top 10 Largest Multi-Family Offices
2020 Report: Hong Kong Private Banks & Asset Mgmt - $4.49 Trillion
2020 Report: Singapore Asset Mgmt - $3.48 Trillion AUM
For Investors | Professionals | Executives
Latest data, reports, insights, news, events & programs
Everyday at 2 pm
Direct to your inbox
Save 2 to 8 hours per week. Organised for success
Register Below
Get Ahead in 60 Seconds. Join 10,000 +
Save 2 to 8 hours weekly. Organised for Success.
Sign Up / Register
Please click on desktop.
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2025 Investment Day
- March - Hong Kong
- March - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Contact Us
For Enquiries, Membershipmail@caproasia.com, angel@caproasia.com
For Listing, Subscription
mail@caproasia.com, claire@caproasia.com
For Press Release, send to:
press@caproasia.com
For Events & Webinars
events@caproasia.com
For Media Kit, Advertising, Sponsorships, Partnerships
angel@caproasia.com
For Research, Data, Surveys, Reports
research@caproasia.com
For General Enquiries
mail@caproasia.com
a financial information technology co.
since 2014
