Sycamore Partners has completed its take-private acquisition of Hot Topic (NASDAQ: HOTT). The transaction is valued at approximately $600 million. Hot Topic is a mall- and web-based specialty retailer operating the Hot Topic, Torrid and Blackheart concepts. The California-based company sells music- and pop culture-influenced apparel, accessories, music and gift items for young men and women. Sycamore, a New York-based firm, specializes in consumer and retail investments. The transaction represents the fourth investment by the firm.