Latin America's Next Wave

Latin America again looms bright on the radar screens of US investors. While huge privatizations still make the biggest impact, beyond the marquee names a second tier of smaller issuers is emerging. And whoever it is, a burgeoning local investor base is being targeted alongside various foreign contingents, with companies challenged to balance the demands of different investors. 'In 1994, investors knew they would make money buying large caps like Telmex and Cemex,' says Alonso Cervera, chief