Deal Sourcery

Mount Rushmore of BD - Lessons Learned from Legend Award Winner Jay Jester

Jul 24, 2025
Jay Jester, Partner at Plexus Capital and an ACG Legend Award winner, shares his wealth of knowledge on building effective business development (BD) teams. He discusses the evolution of sourcing in private equity and the pivotal role of establishing trust and rapport with investment bankers. Jay emphasizes that likability and genuine relationships fuel successful deals, advising on how to strategically choose banking partners. His insights challenge conventional views on sourcing, underscoring that BD should be a core component of the deal-making process.
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ANECDOTE

Jay's Early Career and Mentorship

  • Jay Jester started as an English major and ended up working in investment banking by chance.
  • His career was transformed by working with Glenn Okun, an OG BD professional known for humility and curiosity.
INSIGHT

Importance of Organizational Attunement

  • Organizational attunement is critical for a successful BD function.
  • Teams must align on strategy, ideal targets, and brand to compete in a crowded market.
ADVICE

Focus on High-Probability Targets

  • Focus your BD efforts on a narrow set of high probability targets, not thousands of deals.
  • Avoid diluting energy by trying to cover everything without clear guidance.
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