FoF vs small PE

Hi,

I am in my senior year in a top 3 European city (London, Frankfurt, Paris). I have two offers to intern at a fund for the Spring semester: one is for a pretty young FoF (think $800-1,200m AUM), consistently raising funds each year, around 30% for co-investments, and the second one is at a small PE fund (400-500m AUM), that will raise funds soon and has one bullet left to fully invest its second fund; they will invest in 4-5 months (apparently they determined the most likely acquisition target recently but I would see the majority of the process since I would join in just a few weeks).

The FoF also has a debt fund for LBO financing and I would be part of that team and more focused on co-investments given my prior internship experience but obviously I would spend a lot of time doing primaries too since that is their main investment strategy

Both firms are relatively small so there's no much data available with regard to exit opps, but generally people that have worked in these funds have either stayed or went to other PE funds (for more senior people) or IB roles (for recent grads as I will be soon).

My goal, at the moment, is PE, Restructuring, or Special Situations, but I want to keep as many doors open as possible. Btw, the PE firm does not extend FT offers and the FoF almost guarantees one. I also have the possibility to intern at a M&A boutique (no offer on the table but it would be relatively easy to get one).

I am wondering if anyone can provide some advice. What do you think I should do? What would set me better for a FT job search in the upcoming months?


Thanks a lot in advance!

 
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