Thoughts on how to manage interview conversations for other roles with managers?

Currently interning at a growth equity PE fund and I have an upcoming interview for an EB IB FT analyst role. Is it best to be transparent with your manager about interviews? I am a rising senior and my manager understands that I am still looking for FT roles post-graduation. I am interested in working at my current company post-graduation and don't want to diminish my chances of a return offer. Thoughts?

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Investment Banking Mock Interview

“Constantin was really good, he gave feedback right after each question instead of at the end which made it way easier to remember what i missed. questions were a good mix of medium to hard and he threw in trick ones like the land depreciation and gambling ring beta. when i was vague on the EV question he kept pushing til i got the full answer. his dividends vs buybacks explantion actually taught me something. also super helpful prepping me for my lazard screening call, the why lazard breakdown was great and he didnt mind going over time”

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