The Power of World-Class Networking Events: A Conversation with Gui Costin and Dustin Sullivan

In the investment management world, networking isn’t just an added bonus. It’s a critical component to success. Building and maintaining strong relationships with peers, clients, and potential partners can open doors to new opportunities, foster collaboration, and ultimately drive growth. But networking isn’t just about showing up; it’s about creating meaningful connections that can last a lifetime.

Hosting and attending networking events are key strategies for thriving in the investment industry. These gatherings offer invaluable opportunities to share insights, exchange ideas, and build a trusted network. 

For this reason, at Dakota we have created a traveling series of events called Dakota Cocktails. At these events we bring together professionals in a relaxed setting where business relationships are forged, and partnerships are strengthened. We aim to find the new, trendy hot spots in large metro cities across the US and globally to bring industry professionals together.

To delve deeper into the art of networking in the investment world, our CEO and founder Gui Costin sat down with Dustin Sullivan, Chief Revenue Officer at Havener Capital Partners, for a discussion on hosting world class events in the investment industry. In this conversation, they share their experiences, insights, and strategies for making the most of networking events. 

In this article, we are running through the Q and A session that resulted in this webinar on events. By the end of this, you’ll have a better understanding on hosting a world class networking event from the planning strategies to implement, who to invite, and a few ideas that hopefully inspire you!

Q & A Session 

How often do you recommend hosting networking events? 

I'm going to have a little fun with this answer. I strongly believe that you should commit to hosting events regularly and really develop your expertise in this area. Start by hosting one every quarter or every six months, and make it a priority.

For example, say you're working with Edgewood Management, and you're planning their quarterly networking event at a fantastic venue. You’d frame it as an opportunity to come together, share ideas, and exchange leads. You might say, 'We can't wait to see you at XYZ bar, hotel, or restaurant!'

I’m so passionate about this because, surprisingly, not many people ask me about it. But the truth is, these events are incredibly effective and surprisingly easy to pull off.

So yes, start with quarterly events, but commit to hosting at least eight over two years. As you continue, you'll start to see the same faces, and before you know it, you’ll become the central hub for connecting people in your industry.

Do you ever co-host events with your investment management clients? 

We haven't co-hosted events with our investment management clients yet, but that's not to say we wouldn't consider it in the future. Our focus has always been on making these events about genuine networking, rather than spotlighting ourselves.

If you've ever attended a Dakota Cocktails event, you've probably seen me making my rounds. I make it a point to personally greet every single person and thank them for coming. This approach allows me to get to know a lot of people quickly, and more importantly, it helps connect them with others—which is ultimately what they're there for.

Do you have any advice for making Zoom events fun or making them stand out? We have clients globally, so it's hard to bring them together in-person.

Given that our clients are spread across the globe, bringing them together in person isn’t always an option. During COVID, I participated in a virtual wine tasting organized by Salesforce, and it was an absolute blast—festive, fun, and memorable.

For Zoom events, where networking is limited, I suggest focusing on a highly relevant and engaging topic. Choose something that’s current and interesting, and have your portfolio manager lead the discussion. The more compelling the topic, the better. Be sure to brand the event effectively.

For example, you could say, 'Join us next Thursday from 4:00 to 4:45. Lately, we’ve been hearing a lot about X, Y, Z, and our ABC portfolio manager will be addressing three key questions around this topic.'

The key is to make it as engaging and substantial as possible so that attendees feel like it’s time well spent. Even if some clients can’t attend, the invitation itself serves as a valuable touchpoint. Many will request a replay to catch up on what was discussed, which extends the reach and impact of your event.

For marketing in general, do you recommend going wide with many prospects, or just focus on a small number and try to go really deep?

When it comes to event marketing, I recommend casting a wide net. You should send invitations to all allocators and everyone on your email list who plays a role in due diligence.

The reason is simple: every business thrives on new opportunities. Finding the new is the lifeblood of any business. Imagine if a private equity firm spoke with a company that said, "We’re not focused on finding new customers; we’re just taking care of our existing ones." That conversation would likely end right there—no potential investment.

For some reason, our industry can be hesitant to fully commit to this approach, but consistency and persistence in pursuing new prospects are crucial. You never know who might be interested or who might refer to someone else. There’s also the fact that about 25% of people will change jobs within a year. Someone who seems passive now might be in a more active role at a different firm later on. Staying in front of people and continually building your pool of qualified leads is critical.

So yes, absolutely, send the invite to everyone. You never know where your next opportunity might come from.

Do you have any goals or metrics of what you and your team are trying to get out of these events?

Yes – our primary goal is to add value. You can’t always measure that directly, but by bringing people together, you’re creating opportunities for them to connect with industry colleagues. The appreciation we receive for simply hosting these events is incredible. So, first and foremost, our goal is to facilitate these connections without expecting anything in return.

Beyond that, we aim to build deeper relationships. These events provide a unique opportunity for face-to-face interactions, not just for me, but for the entire team. Everyone gets involved in working the room, which helps us strengthen our network.

In many ways, the benefits are immeasurable. As I say this, I’m struck by how underutilized this approach is. It’s one of the easiest and most rewarding things you can do. Outside of face-to-face meetings in a conference room, this is where the real magic happens. What we’ve noticed, especially when comparing Zoom to in-person meetings, is that face-to-face interactions drive so much more progress across the board in our industry.

Are attendees reluctant to show up because they will get “sold” versus just showing up to network?

This is exactly what I mean when I say, “Turn your brain off,” and I don’t mean that facetiously — I’m being completely serious. When it comes to customer acquisition, the key is that no one’s going to feel like they’re being ‘sold’ because you’re not there to sell them.

What will actually happen is that attendees will leave thinking, “Wow, Bruce is fantastic. It was great to meet him — he wasn’t trying to push anything on me.” They understand the context; they know we’re all here to build relationships and potentially raise money. But if you genuinely show interest in them — their background, their family, their career — that sincerity can’t be faked, and it goes a long way. So no, attendees won’t be reluctant to show up if they sense that the event is about building connections rather than making a sales pitch.

Bruce, you’re highlighting exactly why we’re having this conversation. Many people hesitate because they worry about how others will perceive their intentions. Trust me, I’m human too. Every time we send out an invitation, I wonder if people will think we’re just trying to sell them something. But that’s just noise in your brain. The key is to shut that down and just go for it. I hope that helps.

Do you ever leave people with a swag bag or any other gift? And if so, what items do people enjoy receiving?

If you've worked with us before, you know we’re big on swag – we do a lot of it. As our events have grown, with over 100 attendees, managing swag has become more challenging. For local events, it’s easier, but overall, I don’t think it’s necessary. While you can certainly offer swag, it just adds complexity. Keeping it simple and reducing friction is often the best approach.

Honestly, people don’t need the swag. I’m not often invited to incredible cocktail parties at amazing venues, but if I were in Philly and someone said, “Hey, we’re hosting an event at the Four Seasons for industry networking,” I’m there. And I’d encourage my colleagues to go too. When you offer a top-tier venue, great food, and drinks, with the chance to see industry colleagues, you become the event everyone wants to attend.

On the flip side, I’ve seen competitors try to host events in their suburban corporate offices , so imagine a networking event in a second-story office building. That just doesn’t cut it. The venue matters. A world-class venue can double or even triple attendance. And if you think about it, all it takes is one person to allocate to one of your strategies over the next year, and the event is more than paid for.

How often are you hosting events for prospects versus colleagues in the industry? 

Every event in our Dakota Cocktails series is designed to include both prospects and colleagues from the industry.

However, if I were hosting an event specifically for due diligence analysts, I’d tailor the invite list accordingly. Due diligence analysts prefer to network with their peers, so for an event like that, I’d only invite them. They might be a bit cautious at first, but they’ll still attend—especially since there’s been a lot of interest in industry networking events exclusively for due diligence analysts.

For broader events, like a quarterly gathering, you might consider something more inclusive, like a Christmas party, where you invite everyone. Those tend to attract a lot of allocators.

So, we have two formats: For Dakota Cocktails, we invite everyone every time because it’s a broad, inclusive event. But if you’re concerned about whether due diligence analysts will feel overwhelmed by salespeople at a broader event, you might consider hosting something just for them. It’s all about tailoring the format to the audience and their networking preferences

What about a budget for these events?

I'm thinking a budget in the range of two to three grand per event is a good starting point if you can manage it. The key is to gauge your expected attendance. We've seen our numbers double and triple over the years, so it’s important to plan accordingly.

For example, you might start with a plan to host two events a year specifically for due diligence analysts to network. Each of these could be in that two to three grand range.

I also suggest inviting a broader audience to see what kind of ROI you get. If you focus solely on due diligence analysts, you’re likely to see the highest ROI because they’re directly relevant to your goals. On the other hand, inviting other fundraisers might not benefit an investment firm as much since it’s less about raising money and more about networking within the industry. Most of us already have our own networks for that.

If you want to think smaller, you could strategize around a micro event, say, inviting 20 people for a cocktail party. You could market it as a free event centered on the challenges of fundraising, given the lack of great conferences. It would be a chance to share leads, build relationships, and set up follow-up meetings. This kind of intimate, targeted event is one of the most effective ways to connect with new investors.

Dakota Cocktails

Dakota Cocktails is a premier networking event series hosted by Dakota, designed to bring together asset managers, allocators, and industry professionals in a relaxed, engaging atmosphere. These events are held at trendy, upscale venues across major cities in the U.S. and internationally, offering attendees a unique opportunity to forge meaningful business connections. 

With a focus on creating a vibrant, community-oriented experience, Dakota Cocktails has become a go-to event for professionals looking to expand their networks and explore new opportunities in the investment world.

As you can infer from this article, hosting and attending networking events in the investment industry is crucial for building meaningful relationships and driving growth. By applying the insights shared by Gui Costin and Dustin Sullivan, you can create impactful events that truly connect people and add value to their professional lives.

Don’t miss out on experiencing a world-class networking event. Explore our upcoming Dakota Cocktails events and join us for an evening of networking in a city near you!