Advice on Prep for BlackRock Private Credit Interview

Have an interview for an off-cycle internship (~6 months) with blackrock private credit tmrw. Looking for advice on how to nail it.

Background: previously did another off-cycle internship in LMM PE, but I didn't get to do anything too technical. Mostly did research for deal sourcing / summarizing CIMs / pipeline management / other adhoc projects (contribute a slide or two to intro decks, copy/paste/move logos, make an org chart, etc.). NGL, had a lot of impostor syndrome going into and leaving that opportunity. They loved me as an intern, but I still feel like I don't actually know what I'm doing - I just know I enjoyed my time in the buy side and want to do more of this, so this opp with blackrock in private credit is literally heaven-sent.

I've never done IB, never did financial modelling on the job, and most I've done is consolidated statements on excel. I'm not one of those hardo kids that's been in the super competitive finance club on campus for 3 years or whatever. Feels like I don't deserve this opportunity and I'm about to fumble the biggest opportunity I've had so far.

Am super nervous because last week I just interviewed for another private credit role at another firm. I did well on the behavioral bit, but when they asked me technicals, I just absolutely bombed it.

They also asked me for things like my favorite deal I worked on at my previous firm. Bro, I didn't close a deal, I wasn't even on any full deal process. I was stuck on sourcing. Most I heard would be during pipeline meetings; things like if we were gonna pass on a company or if we were still waiting on data or have another customer call coming up to determine why people bought the service, etc. Nothing past that. While I was there, 2 deals were closed, firm acquired 2 add-ons for 2 of its portco's, and I wasn't involved at all in those.

My current plan is, if they ask me about my fav deal (which I'm 1000% certain they will), I'm going to maybe mention companies I found interesting for a set of reasons (business model, good financials, greenfield opportunity), and then say something along the lines of "past the sourcing stage, the deal fell through." As for why it fell through, no clue - that's where I'm stuck. My fear with this strategy is that the reasons I give out would probably sound generic and not very specific to the company, and idk how to fix that. 

Sorry for the ramble. Basically, I wanted to ask for:

• General advice on how to prep for an interview in private credit 

• What are the key differences between PE and PC? In my last interview they glossed over the answer so quickly and I was kind of burnt out by that point so I couldn't remember everything they said. They said something about how PC stands higher on the capital structure than PE or something along those lines but I wanted more clarity on the exact phrasing. Also, they said that in PC you invest in companies already vetted by PE sponsors, or something along those lines (again, need clarity on this).

• Sounds like PC has a lower risk/reward profile to PE, but sits higher on the capital structure, so they get paid before the PE sponsor does. Is this correct? And because it's lower risk, the reward is lower? what's the general mechanism behind this?