Private Markets versus Public Markets

I recently finished an internship in an Asset Management firm (small shop, PE, I feel the transparency makes it even more stressful, as investors can pull money easily out.

2) Value add. Honestly for your run of the mill fund, I feel like that value-add is minimal, and I would rather just encourage clients to invest in an index fund etc.

Some of the experienced monkeys who chose PE over HF/long only funds, I was hoping to get your insights on why you chose it over the other, and whether you regret doing so.

My experience in PE is absolutely nil (except reading some posts on WSO), and I just entered my sophomore year. I'm looking at targeting some of the boutique PE funds for my sophomore internship in addition to boutique IB's, and I'm looking for a convincing answer to why private markets over public markets.

I guess since I'm gunning for IB, If I do make it I will probably have to make the PE vs HF vs industry choice, so the more the knowledge the better!