Five Years Ago "The Search for the Perfect Gift Horse" It was only five years ago that the private equity market was booming as never before -or since. LatinFinance reported on the fierce competition among private equity fund managers for assets in Latin America. Some investors deserve a pat on the back for forecasting the disaster that was to befall the industry a few years later. In 1998, private equity investments peaked at $5 billion and collapsed to $710 million last year. "Contestants in Latin American private equity are lining up at the trough in search of the tastiest deals. But with competition fierce, none of them can afford to take success f

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