Private equity in Latin America weathered a difficult 2009 better than in the rest of the world, according to new analysis released in the same week that Advent International revealed it had closed the largest-ever buyout fund in the region.

According to a survey conducted by the Latin America Venture Capital Association, or Lavca, private equity and venture capital investment in the region last year totaled $3.3bn (€2.4bn), a decline of 29% from the previous year, while fundraising declined 43% to $3.6bn.