| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 2005; 21 years ago (2005) |
| Founders | Richard A. Baker Robert C. Baker William L. Mack Lee S. Neibart |
| Headquarters | New York City,New York, U.S. |
Key people | Richard A. Baker (Founding Partner) |
| Website | nrdcequity |
NRDC Equity Partners (NRDC) is an American private investment firm focused on retail, real estate, and consumer branded businesses.
NRDC was founded in 2005[1] by Robert C. Baker, owner of National Realty & Development Corp; andWilliam L. Mack andLee S. Neibart, partners ofAREA Property Partners.[2]
NRDC has completed five transactions since 2005, totaling almost $5 billion inenterprise values and has invested approximately $1.5 billion of equity for its transactions. NRDC targets transactions ranging from $250 million to $5 billion of enterprise value, requiring total equity investments of $50 million to $1.5 billion.[2][3]
NRDC's current portfolio includes Retail Opportunity Investments Corporation (ROIC). NRDC formed itsreal estate investment trust portfolio company, ROIC, through a public equity raise of $414 million completed in October 2009. ROIC focuses on acquiring and growing high quality shopping centers. It has invested over $200 million and has completed/announced 14 transactions as of September 2010.[3]
HBC was a holding company that owned and managed over 57,000,000 square feet (5,300,000 m2) of retail properties located in Canada and the U.S. It operatedHudson's Bay andZellers department stores across Canada.[4]Home Outfitters, another subsidiary, operated 69 kitchen, bath, and bed superstores across Canada until closing in 2019.[5]
Saks Global operates various department stores and outlet stores in the U.S. includingBergdorf Goodman,Neiman Marcus, Neiman Marcus Last Call,Saks Fifth Avenue andSaks Off 5th. Although a creation of Richard Baker, he is no longer with this company due to its filling ofChapter 11 bankruptcy in early 2026.[6]
NRDC ownedLord & Taylor, operating 50 department stores and four outlet centers located in the U.S.[4] NRDC directly owned the chain from 2006 to 2008, and then throughHudson's Bay Trading from 2008 to 2012 and HBC from 2012 to 2019. The sale of Lord & Taylor toLe Tote Inc. by HBC was announced in August 2019.[7]
From 2015 to 2019 NRDC owned Germany's largest department store chain,Galeria Kaufhof.[8][9][10] On April 9, 2024, it was announced that NRDC intends to once again acquire the department store chain which had become known asGaleria Karstadt Kaufhof from the insolventSigna Holding company.[11]
Other companies NRDC owned in the past includedFortunoff,Gilt Groupe (through HBC) andLinens 'n Things (as a joint venture withApollo Global Management).[12][13]
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