Investment Analyst- Generalist

I met with the firm through a recruiter. The initial interview was with a VP since it's a small firm. The second round interview was with the global head of private equity in the global head of research. After some time I interviewed with the initial VP again, along with a Sr associate. The questions were moderately technical, but the interview was a conversation style. They were very interested in my interactions with clients and my ability to write reports. The final round was a coffee chat in the office. They asked about what I would put my money into and I said private credit because of the interest rate environment but I was not fully prepared to answer the question like I should've been. They left things open ended and said they would let me know about next steps. Both times I did not receive an offer.