Retailer The Neiman Marcus Group Inc says its acquisition by an investor group led by Texas Pacific Group and Warburg Pincus is complete.

Affiliates of Texas Pacific Group and Warburg Pincus entered into a merger deal to buy Neiman Marcus on 1 May for a price of about $5.1 billion in cash.

Kewsong Lee, a Warburg Pincus managing director and leader of the firm's global LBO group, said: "Burt Tansky and the management team have done a phenomenal job in keeping Neiman Marcus focused on its core strengths.

"The company has enjoyed record operating and financial performance and we look forward to working with Burt and his team to continue building upon this track record of success."

The Neiman Marcus Group Inc operates as a specialty retailer of apparel and accessories in the US.