Article: Massachusetts Pension-Job Candidate Has Known Ups, Downs.

By Andrew Caffrey, The Boston Globe Knight Ridder/Tribune Business News

Sep. 30--The most unflattering moment as an investment manager for Steven Weddle, the man Massachusetts Treasurer Timothy Cahill wants to put in charge of state pensioners' $29 billion retirement fund, may be the deal with Kingdom Financial Holding Ltd.

Weddle was running a southern Africa venture fund, which in 1997 invested $1.2 million in Kingdom Financial, a banking, brokerage, and asset management company in Zimbabwe. The company did well, and Weddle's fund cashed out in 1999, expecting a profit of around $500,000.

Just one problem: Weddle's fund had failed to ...

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