A lot of coverage of the sale of Neiman Marcus by the private equity companies than own it to new private equity companies seems to me to be missing what's interesting here. David Gelles at Dealbook, for example, said the buyers are "a group led by Ares Management and a Canadian pension plan."
But it's not just a Canadian pension plan. It's the Canada Pension Plan.
Which is to say the luxury retailer has been bought by Canada's version of Social Security.