If you’re new to PE BD or trying to break-in, you don’t want to miss this one. Carlos Soto of H.I.G. Capital joins the show to give a masterclass on what makes a standout BD professional in today’s market, what traits new hires should look to cultivate as they begin their careers, and how to use KPIs and other metrics to ensure you’re spending your time wisely. He also breaks down the advice and wisdom he’s received from some BD legends, and exactly what you need to do to make sure your relationships with bankers help get you deals.

Learn more: Coastal Partners — coastalpartners.co | Tahoe Equity — tahoeequity.com

We all know relationships are key in BD, but it’s still easy to forget that there’s always a real human on the other side of your transactions. Chris Reilly, Managing Director at VRA Partners has years of experience building lasting relationships that have helped propel and maintain his career in investment banking. Chris joins the show to discuss how PE folks can engage boutique bankers and create lasting relationships that stick, what kind of engagement tactics work and what ones will land your email in the trash, and how building reciprocal relationships with wealth advisors and M&A Attorneys can help you stay in the know and get referred to the bankers and deals that will take your career to the next level. He also leaves us with advice on what the next generation of PE industry titans should be doing now to ensure long lasting and thriving careers in a competitive business.

00:00 — From Accounting to Deal Origination

Chris Reilly’s unconventional path into investment banking and discovering a passion for sourcing deals

03:50 — What VRA Actually Does

Inside a boutique investment bank: clients, deal size, and how they operate

05:32 — How to Engage Boutique Bankers

Why most outreach fails—and what actually gets attention

08:32 — How Often Should You Reach Out?

The right cadence for building (and maintaining) banker relationships

10:17 — Who Gets Priority Time (and Why)

Track record, capital, and what separates serious buyers from the rest

13:05 — If I Were Starting a PE Firm Today…

Chris’s playbook for choosing which bankers to build relationships with

16:11 — Biggest Mistakes People Make

The “too transactional” trap—and how it kills opportunities

19:04 — How to Get on the Short List

What it really takes to be included in competitive (or limited) processes

22:32 — How Deal Origination Actually Works

The 3 core channels: referral sources, sponsors, and direct outreach

26:08 — What Metrics Matter in Origination

Market visits, pitches, and the KPIs that drive revenue

32:19 — The Power of Referral Networks

Why wealth managers and attorneys are the most valuable relationships

35:38 — A Real Deal Story ($200M+ Outcome)

How one relationship turned into a major transaction

40:11 — Are Referral Networks Underutilized?

Why most buyers ignore a massive opportunity

42:56 — What Makes a Great Referral Partner

Education, reciprocity, and playing the long game

48:26 — How the Market Has Changed

Longer processes, more specialization, and more competition

49:50 — The Rise of Professional Deal Sourcing

Why business development roles have become more sophisticated

51:59 — Conferences: How Bankers Actually Spend Time

Why existing relationships dominate—and how to break in

53:05 — Proprietary Sourcing vs Banker-Led Deals

Learn more: Coastal Partners — coastalpartners.co | Tahoe Equity — tahoeequity.com

What does training for Olympic Gold have in common with a career in deal sourcing? In his first year at Norwest, 5x Olympic Gold Medalist Ryan Murphy found out. Ryan joins the show to talk about his transition from Olympian to Investor, how co-owning a Goldfish Swim School franchise helps him relate to business owners, and how even a world-record holder can have trouble getting responses to cold emails.

In this episode, we sit down with Glenn Oken to trace how business development in private equity has evolved from 1989 to today, and what’s been lost (and gained) along the way.

Glenn reflects on the early days of deal sourcing, when private equity was barely an industry, competition was thin, and there were no CRMs, playbooks, or automated workflows to lean on. What existed instead was judgment, creativity, persistence, and a relentless focus on building real relationships — often face to face.

We explore how sourcing moved from hustle-driven relationship work to a more process-heavy function, why in-person connection still matters despite efficiency tradeoffs, and where experience beats financial engineering, especially in the lower middle market. Glenn also shares what it takes to survive the emotional reality of BD — the work that doesn’t bear fruit, the thrill of the hunt, and the long game of trust-building.

In a world where our digital inboxes are flooded with the same templated outreach e-mails, AI-assisted intros and impersonal newsletters, what can you do to stand out? Jake Colognesi of Mamba Growth Equity joins the show to talk about bringing humanity back into private equity to set himself apart from the competition. From leading with empathy and curiosity to sending out type-written notes to potential partners, Jake walks us through what makes a Mamba Deal different and why it works.

Is starting your day with a little bit of shared struggle the key to building deeper relationships? Mike Alberts thinks so. Mike joins the show to discuss how his "M&A Fitness Club" got started, why leaning into your interests can help you stand apart and make more connections, and why he believes BD is the best job in PD.

You already keep metrics on just about everything, but how do you turn those numbers into actionable items to help you win more deals? Renn Iaboni of Monomoy Capital Partners joins the show to explore how to make sense of all that data you're tracking, how AI is changing the way we present information to banks and investors, and why there's no such thing as a bad first meeting.

At Deal Sorcery Live, recorded at M&A SoCal, Ori Eldarov (Founder of OffDeal) and John Camp (Arbor Investments) join the show to discuss the origins of business development and how artificial intelligence is reshaping dealmaking — from sourcing to closing.

They discuss what happens when AI takes the wheel in investment banking, why human relationships still matter more than ever, and how the next generation of deal professionals will work alongside technology, not against it.

Topics covered:

• How AI is transforming deal sourcing and private equity workflows
• Building an AI-native investment bank with more engineers than bankers
• Why a human-first approach still drives great deals
• The evolution of business development in a tech-driven market

#DealSorcery #PrivateEquity #AI #InvestmentBanking #OffDeal #ACGSoCal