European M&A T2 Strat Consultant going to M7 MBA - interested in internship in PE but not FT

Currently at a T2 strat house doing M&A consulting in EU, lot's of Merger-integration, Carve-out and DD work. Getting sponsored to go to an M7 (non-HSW) MBA this fall and trying to plan for internships next summer, considering that I want to return to my company after the MBA.

I understand that Consulting to PE (deal team) is extremely difficult and I imagine even more so when your presentation card is: I want to work for you, but only for the summer...

Considering this, I have the following questions:

  1. Should I even try structured PE recruiting at my school? These are usually targeted for IB and PE folk
  2. Should I be upfront about the internship being a one-off?
  3. What PE firms should I target? My hunch is that on the smaller side; casting as wide of a net as possible. Seems like these shops could use a hand during some months without having a FT opening

That said, and considering how difficult this is, would you recommend IB as an alternative (a bit more traditional internship coming from M&A Consutling)? It would help me achieve my goal of getting deal experience (don't think I'll help close anything haha...) during my MBA internship for future job prospects.

One final consideration and happy to hear your thoughts: after speaking with some students, what worries me about IB is that I would defintly have to lie about not wanting to convert to full-time. Occupying a covetted IB spot and then not accepting (if I get a return offer - big if) might also rub some people the wrong way, specially considering year 2 students and alumni are involved in selection... and they interview before with you..

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