Hedge Fund Milestones

Candlewood Structured Credit Fund Ltd. closed to new investors June 1 with about $622 million, according to its monthly update to investors, a copy of which was obtained by Bloomberg. The fund managed by New York-based Candlewood Investment Group LP in May completed its 17th straight month of positive returns, a record dating to its inception in January 2011, according to the update. The fund returned 1.4 percent last month and is up 34.8 percent year to date. In 2011 it returned 25.2 percent. The fund’s portfolio managers are Greg Richter and Brian Herr.

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