Warburg Pincus

The owners of the Neiman Marcus chain are near a deal to sell the luxury retailer to a group led by Ares Management and a Canadian pension plan for about $6 billion, a person briefed on the matter said on Sunday. A deal between the Ares-led group and Neiman's primary owners, Warburg Pincus and TPG Capital, could be announced as soon as this week, this person added, cautioning that talks are ongoing and could still fall apart.

Dallas -- A Thursday report by the Wall Street Journal said that Warburg Pincus and TPG, the private-equity owners of Neiman Marcus Group Inc., are looking for an exit. The firms paid $5.1 billion for Neiman Marcus seven years ago; the company is...