Show notes
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.Chapters00:00 — From Accounting to Deal OriginationChris Reilly’s unconventional path into investment banking and discovering a passion for sourcing deals03:50 — What VRA Actually DoesInside a boutique investment bank: clients, deal size, and how they operate05:32 — How to Engage Boutique BankersWhy most outreach fails—and what actually gets attention08:32 — How Often Should You Reach Out?The right cadence for building (and maintaining) banker relationships10:17 — Who Gets Priority Time (and Why)Track record, capital, and what separates serious buyers from the rest13:05 — If I Were Starting a PE Firm Today…Chris’s playbook for choosing which bankers to build relationships with16:11 — Biggest Mistakes People MakeThe “too transactional” trap—and how it kills opportunities19:04 — How to Get on the Short ListWhat it really takes to be included in competitive (or limited) processes22:32 — How Deal Origination Actually WorksThe 3 core channels: referral sources, sponsors, and direct outreach26:08 — What Metrics Matter in OriginationMarket visits, pitches, and the KPIs that drive revenue32:19 — The Power of Referral NetworksWhy wealth managers and attorneys are the most valuable relationships35:38 — A Real Deal Story ($200M+ Outcome)How one relationship turned into a major transaction40:11 — Are Referral Networks Underutilized?Why most buyers ignore a massive opportunity42:56 — What Makes a Great Referral PartnerEducation, reciprocity, and playing the long game48:26 — How the Market Has ChangedLonger processes, more specialization, and more competition49:50 — The Rise of Professional Deal SourcingWhy business development roles have become more sophisticated51:59 — Conferences: How Bankers Actually Spend TimeWhy existing relationships dominate—and how to break in53:05 — Proprietary Sourcing vs Banker-Led DealsLearn more: Coastal Partners — coastalpartners.co | Tahoe Equity — tahoeequity.com
