Which type of PE to pursue? -- Need advice

Hi All,

Sophomore interning at BB this summer and interested in PE long term.

How does one decide whether to pursue traditional LBO PE or distressed PE? I have done my research and I have taken away that traditional PE is more about looking at a business model and distressed PE is more focused on capital structure.

In your opinion, what are the key differences? Are there any shops that come to mind where you would be exposed to both?

I understand that an M&A Group may prepare you best for traditional PE and a Restructuring Group may prepare you best for distressed PE. That said, can an M&A Banker do distressed PE and a Restructuring Banker do traditional PE?

Apologies for the long post, but the help is greatly appreciated!

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