M&A Intern

The interview process was professional, efficient, and focused on practical private equity judgment rather than purely technical memorization. I applied through my MBA / university network for a summer private equity associate internship focused on lower middle-market acquisitions and roll-up investing.

The process moved quickly and took less than one month from initial communication to final offer. It began with introductory communication around my background, interest in private equity, and fit for the firm’s investment strategy. The main interview was a one-on-one conversation with senior team members and focused heavily on prior transaction experience, ability to evaluate acquisition opportunities, understanding of founder-owned businesses, and comfort working in a lean, entrepreneurial investment environment.

The questions were a mix of behavioral, investing, and deal experience questions. I was asked about my previous M&A / transaction advisory work, how I would evaluate an acquisition target, what makes a lower middle-market business attractive, how I think about industry fragmentation, recurring revenue, customer concentration, and value creation after acquisition. There was also a strong emphasis on fit, since the role requires working closely with operators, founders, and a small investment team.

The process was difficult but fair. It was less about textbook LBO questions and more about whether I could think like an investor, communicate clearly, and apply transaction experience to real acquisition situations. My advice to candidates would be to know your deal experience very well, be able to explain why private equity and why lower middle-market investing, and prepare to discuss what makes a founder-owned business attractive or risky. It is also helpful to understand roll-up strategies, insurance distribution, recurring commission revenue, and how a small PE-backed platform evaluates add-on acquisitions.

Overall, the people were thoughtful, direct, and practical. The culture seemed entrepreneurial, hands-on, and execution-oriented, with meaningful responsibility given to interns who can add value quickly.