MSc in London --> IBD BB for 2 years --> PE Recruiting - do MSc grades matter a lot?

Hi all,

I am currently doing an MSc in London before starting as an analyst at a BB in London. 2-3 years down the road I want to break into PE. My question is: how much do the grades from my current master studies matter? I've got my BB offer since late 2015, so you can probably imagine that I my motivation towards having stellar grades and getting a distinction is quite low. Not saying that I am lazy and that I just want to chill, I am just wondering if it is worth putting an extreme effort into academics/getting first class honours given my situation? How much will PE shops/headhunters in London care about the grades that I got during my MSc if I have 2-3 years experience as an analyst?