Definitely would go the PE internship for the entire time. If it's it's one of the Dallas families that I think it is then I can almost guarantee that most of the people you'll be working with started in IB and have the type of connections that can get you in a lot of doors that you otherwise wouldn't even see.

PF is also a pretty decent option actually, but my guess is that if you stay with the PE guys then you'll get more responsibility over time and you'll definitely form better relationships due to proximity. Since the PE guys have already walked that path that you're on, I'd talk to them about your career goals and whether the PF internship would offer that much more value.

 
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