This is Sycamore’s fourth deal following the acquisition of a controlling stake in Mast Global Fashions, the formation of Pathlight Capital and the buyout of The Talbots.
The New York-based firm currently has more than $1bn under management.
Sycamore Partners managing director Stefan Kaluzny said, “Hot Topic and Torrid are both leaders in their categories, and we are excited to have both brands as part of our portfolio.
“Sycamore Partners is very pleased to have the opportunity to partner with Lisa Harper and her team to invest in the continued development of both the Hot Topic and Torrid retail brands.”
Sycamore recently ended buyout talks with Australian surfwear group Billabong.
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