这个理念出自收购基金和对冲基金。
近年来，大规模杠杆收购基金的快速兴起令风险资本相形见绌。
Venture capital has been overshadowed in recent years by the rapid rise of big leveraged buy-out funds.
杠杆收购基金变得越来越多并且购买越来越多的公司，所以这是个极大的趋势。
The LBO funds get larger and larger and buy larger and larger businesses, so it's a huge trend.
摩根-斯坦利正在推动这项业务的回归，它期望能为它的一个收购基金募集50亿美元的资本。
Morgan Stanley is pushing ahead with a return to the business, hoping to raise up to $5 billion in a buy-out fund.
当然有趋势。杠杆收购基金变得越来越多并且购买越来越多的公司，所以这是个极大的趋势。
Of course there's a trend. The LBO funds get larger and larger and buy larger and larger businesses, so it's a huge trend.
作为对管理收购基金和分担风险的回报，私人股本管理机构一般都会收取一笔管理费，另外提取基金收益的一定比例。
In return for managing buy-out funds and sharing in the risk, private equity managers traditionally got a management fee and a share in the fund's performance.
6月5号，TPG以及高盛旗下的收购基金将一家美国移动电话运营商卖给了Verizon无线并获取了少量收益。
On June 5th buy-out funds run by TPG and Goldman Sachs sold Alltel, an American cellular operator to Verizon Wireless at a slight premium.
接近贝恩资本（Bain Capital）的一位消息人士这样对我评价戴维•托尔。 托尔日前表示，总部位于波士顿的贝恩资本将在下次募集大型收购基金时为投资者提供更高比例的利润。
That's what a source close to Bain Capital tells me about David Toll, who today reported that the Boston-based firm would offer investors a greater share of the profits on its next mega-buyout fund.
一些银行家透露，对本田所持股份的竞争仍然较为激烈，包括华平(WarburgPincus)、贝恩(Bain)和KKR在内的多家收购基金有意于此，还有一些主权财富基金也对此笔交易感兴趣。
Competition for the Honda stake is still intense with several rival buyout funds, including Warburg Pincus, Bain and KKR, as well as sovereign wealth funds keen to get in on the deal, say bankers.
这是由于基金通常是靠对交易是否完成下注来赚钱，例如，如果预计收购会成功它们就买入目标公司，反之则卖空这些公司。
That's because funds typically make money by betting on whether transactions are completed, buying target firms if they expect acquisitions to succeed, for example, or shorting them if they do not.
无人知晓“奥马哈圣人”是否真的会收购这些主权财富基金所收购的股份。
Nobody knows whether the Sage would have bought any of the stakes purchased by sovereign wealth funds.
那么到一家在拉斯维加斯收购止赎房屋的基金。
Go to a fund that is buying up foreclosed homes in Las Vegas.
巴西降低了银行储备金要求并且为其鼓励银行和存款保险基金收购小型银行的贷款资产组合。
Brazil reduced reserve requirements and gave Banks and its deposit-insurance fund incentives to buy up the loan portfolios of smaller Banks.
对冲基金通过收购公司并抛售逊于大盘的资产盈利。
Hedge funds can make money by buying companies and selling underperforming assets.
黑石公司和TPG公司都是最大的杠杆收购的出资方，都持有不景气的债务基金。 黑石公司扩展了已经很大的重组部门。
Blackstone and TPG, two of the biggest sponsors of leveraged buy-outs, both have distressed-debt funds, and Blackstone has expanded its already big restructuring unit.
研究行业动向的专家认为苹果正在用这些资金建立一个战略基金，以进行战略收购和保证其技术专利的安全性。
Industry watchers believe that it is building up a war chest to be used for strategic acquisitions of other businesses, and to secure technology patents.
股市投资者抱怨，私人股本基金在收购公司资产的两三年后，以高出许多的价格卖回到股市。
Stock market investors complain when private equity funds buy corporate assets only to sell them back to the stock market at a far higher price a couple of years later.
从1980年到去年年底，所有风险资本基金的终身平均内部回报率为5.5%，而全部收购型公司的内部回报率为14.4%。
The average internal rate of return over the life of all venture capital funds since 1980 until the end of last year was 5.5 per cent, against 14.4 per cent for all buyout firms.
其中最有竞争力的是国家退休基金储蓄银行（下文称BTPN），它被私募公司德克萨斯太平洋集团收购，之后于2008年进入小额信贷市场。
Among the keenest of them is Bank Tabungan Pensiunan Nasional (BTPN), which entered the market in 2008 after a buy-out by Texas Pacific Group, a private-equity firm.
作为另类对冲基金的领导者，这个过程中，公司将高收益贷款投向公司借贷者并且推动杠杆收购的繁荣。
It was a leader of a new breed of alternative hedge funds that invested in high-yield loans to junk-rated corporate borrowers and helped fuel a leveraged buy-out boom in the process.
传言的来源很复杂，有的说是从前Facebook员工手里收购股票的某基金公司的人士，还有说法是在硅谷很有影响力的一家投资银行的人士。
The sources for the rumor vary from people at a fund that buys stock from former Facebook employees to people at a very influential investment bank in Silicon Valley.
另一个是一位卓越的避险基金的积极分子Pershing Square的WilliamAckman，估计他只关心收购价格。
The other is William Ackman of Pershing Square, a prominent activist hedge fund, who is reckoned to care only about the price.
SteveFeinberg是其幕后老板，这个臭名昭著的人在1992年和他人共同出资创建了这家对冲基金公司，开展对不良债权的收购。
Steve Feinberg, its notoriously reclusive boss, co-founded the firm in 1992 as a hedge fund that traded distressed debt.
SteveFeinberg是其幕后老板，这个臭名昭著的人在1992年和他人共同出资创建了这家对冲基金公司，开展对不良债权的收购。
Steve Feinberg, its notoriously reclusive boss, co-founded the firm in 1992 as a hedge fund that traded distressed debt.
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