In a typical deal a private equity shop would borrow about 70% of the purchase price (those loans go on the acquired company's balance sheet, often doubling or tripling its debt load).

在典型私募收购交易中，私募股权公司将贷入或筹借约占收购总额的70%的资金，而这些贷款会将以其2倍或3倍的价格体现在所购公司的资产负债表中。

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The days when any large-ish bank could set up shop, load its balance sheet with debt and become an also-ran in anything from bond underwriting to complex derivatives are over.

WSJ: Wall Street Giants Try a New Business Model