Sycamore Partners has held a first close on approximately $600 million for its debut fund, according to marketing materials obtained by Fortune. The listed target is $750 million, with Sycamore partners expected to contribute a minimum of $25 million.

The New York-based private equity firm was formed last year to focus on retail and consumer investments, and made news late last year by offering to acquire women’s apparel retailer Talbot’s  for $212 million (Sycamore also began buying up shares on the open market). Talbot’s initially rejected the bid, but later agreed to open its books.

Sycamore’s first completed deal was the acquisition of a 51% stake in Limited Brands Inc.’s (LTD) apparel sourcing division — which will be run as a standalone business.

Sycamore is led by Stefan Kaluzny and Peter Morrow, both of whom previously were with Golden Gate Capital.

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