NRDC Equity Partners

NRDC Equity Partners (National Retail and Development Company Equity Partners, commonly referred to as NRDC) is an American private investment firm investing in retail, real estate and consumer branded businesses.

NRDC Equity Partners, LLC
Private Ownership
IndustryPrivate Equity
Founded2006 (2006)
FoundersRichard A Baker
Robert C. Baker
William L. Mack
Lee S. Neibart
HeadquartersPurchase and New York City, New York, United States
Key people
Richard A. Baker, CEO; Francis Casale, Brian Pall, Donald Hutchison, Donald Watros

History

NRDC was founded in 2006[1] by Robert C. Baker, owner of National Realty & Development Corp; and William L. Mack and Lee S. Neibart, partners of AREA Property Partners.[2]

NRDC has completed five transactions since 2006, totaling almost $5 billion in enterprise 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]

Portfolio

NRDC’s current portfolio consists of two of the leading companies in their sectors, the Hudson's Bay Company (HBC) and Retail Opportunity Investments Corporation (ROIC).

HBC is the holding company that owns and manages over 57,000,000 square feet (5,300,000 m2) of retail properties located in Canada and the U.S. through its portfolio subsidiaries.

  • Hudson's Bay operates 90 department stores located in Canada[4]
  • Home Outfitters operated 69 kitchen, bath and bed superstores across Canada and all locations were expected to close by the end of 2019[5]
  • Lord & Taylor owns and operates 50 department stores and four outlet centers located in the U.S.[4] The planned sale of the chain to Le Tote Inc. was announced in August 2019.[6]
  • Saks Fifth Avenue owns and operates 42 department stores and 65 OFF 5th outlet stores in the U.S.

NRDC formed its real 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]

References

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