Three major private equity firms are opening up offices in the emerging markets of Peru and Colombia to ride the crest of deals that rate higher than the economic growth of Brazil. The private equity firms are the Carlyle Group LP, the Pantheon Ventures LLP and Victoria Capital Partners LP.

Pantheon would be opening its first office in Bogota, Colombia. This was confirmed by Jaime Londono, incoming division head for the firm in the country. Victoria, whose base is in Buenos Aires in Argentina, would establish its presence in the next year and half or so, according to its Managing Partner Carlos Garcia. For its part, Carlyle opened its Lima, Peru office and is now studying on whether there is a need to open one up for Colombia, according to head for South America Fernando Borges.

The growth of the Peruvian economy at 6.3% in 2012 as well as the Colombian economy by 4% has shifted the attention of many deal makers from Brazil, who only was able to reach 0.9% growth, according to the Latin American Venture Capital Association.