MD only interested in star deals

A potential IPO deal came up where my bank could join the bookrunner syndicate --- it was a remote connection of my college best friend, seren-freaking-dipity --- the volume is expected to be medium to small. Company in the high education sector, a private college going public.

After talking to my MD, I got the impression that he is not interested in pulling in a keystone investor for the company, and therefore becoming a joint bookrunner and making some $$. 

Is this common among MDs? Bank is fairly big. 

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