Sycamore Partners Management LP, which does business as Sycamore Partners, closed with $4.75 billion for its Sycamore Partners III LP, its third fund.

The New York-based private equity firm, which provides capital to consumer, distribution and retail-related businesses, now has about $10 billion in assets under management. Its global investors include endowments, foundations, funds of funds, family offices, insurance companies, pension plans and sovereign wealth funds.

The previous fund, launched in 2014, raised $2.5 billion in capital.

Acalyx Advisors Inc. was placement adviser, and Kirkland & Ellis LLP was legal counsel.