LONDON (Reuters) – The private equity industry has grown into a pyramid scheme that will create casualties in around three to five years, the chief investment officer of Europe’s biggest asset manager said on Wednesday. Vincent Mortier, the CIO of Amundi, said deals were being done at exorbitant valuations and private equity firms were on both sides of the transactions. “In some parts the private equity market may be like a Ponzi scheme,” Mortier told reporters. “What you see is that the vast majority of deals currently are being done between private equity firms. One private equity firm will …