Recruiting for FT vs. Waiting for Return Offer Decision

I'm working at a megafund growth equity firm this summer and would immediately accept a return offer from them to work there full-time. Even though nearly all interns have historically gotten returns, I would rather err on the side of caution and keep my options open for full-time recruiting. To be safe, should I still apply to similar firms and tech LBO shops (Warburg, SL, etc.) for full-time roles now or wait until I hear back officially about the return offer before reaching out?

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