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Sycamore Partners’ third buyout fund takes in $4.75 billion at closing

Sycamore Partners closed its third buyout fund at $4.75 billion, the company said in a news release on Monday.

Sycamore Partners III invests in middle-market and large-market branded retail and consumer products sectors. The prior fund, Sycamore Partners II, closed in 2014 at $2.5 billion.

Investors include the $206.9 billion New York State Common Retirement Fund, Albany; the $118.9 billion New York State Teachers' Retirement System, Albany; the $78.1 billion Virginia Retirement System, Richmond; the $69.9 billion State of Michigan Retirement Systems, Lansing; and the $24.6 billion San Francisco City & County Employees' Retirement System.