• RETAIL PARTNERS: Caruso Capital Partners LLC, an arm of lifestyle shopping center specialist Caruso Affiliated, and TPG Capital have formed a venture to target underperforming mixed-use and retail properties for investment. The new entity, Caruso-TPG Partners, plans to put up to $750 million into opportunistic investments in select mature markets in the western U.S. Rick Caruso, president and chief executive officer of Caruso Affiliated, will be ceo of Caruso-TPG Partners, and Stephen Rader, president of Caruso Capital, will be president. TPG owns Neiman Marcus Inc. with Warburg Pincus LLC and has about $48 billion of assets under management. Caruso Affiliated is the Los Angeles-based shopping center development company known for creating The Grove and The Americana at Brand.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)