Thoughts on asset management? AM firms entering PE?

In UG, thinking about a career in AM vs IB/PE. What should I think of when thinking about career opps? How crucial is it to get to a firm like PIMCO/Cap Group vs Fidelity/BR (active vs passive)? Is AM an industry you go in to not get out of? I also noticed big name AM entering the late-stage growth equity space, any thoughts on this trend? Thanks!

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