[HELP] PE Internship Europe
I'm an intern at MBB in western Europe looking for an internship in PE (preferably UMM/MF). Non-target school by London standards (well-respected in home country), native in two European languages and business fluent in another two (incl. English).
I have gotten some interview invites from MMs (think Waterland, Equistone, etc.) but not any success with bigger funds. Have tried reaching out to HHs but I didn't have any success with them either (either no opps after intro call, or outright ghosted).
I'd really appreciate any advice on how to go about securing UMM/MF internships in EU.
French Hardo English Hardo Pan European Monkey
Instead of looking for a bigger name, I would focus on funds that would potentially give you a return offer
Many of them don’t give return offers at all
You should really consider Waterland, they might be small when compared to UMM but they are one of the best in the EU
I am not looking to convert an UMM/MF internship, just get (i) the Large Cap investing experience, (ii) respected and ⁄internationally recognized brand name and (iii) position myself optimally for UMM/MF recruiting after MBB. Of course I would not mind if I'd be one of the super rare occasions of some funds converting interns to analysts, but certainly not betting on that.
And personally, I would rather be at MBB than a EU MM (at least as a junior). At MBB I still have the chance at UMM/MF, a lot of perks and geographic mobility and - if I choose to or struck out at my "preferred" options - can still recruit for MM later on.
In Germany Cinven, PAI and Triton seem to take interns regularly. KKR also opened up a spot in Frankfurt but it's super competitive. Advent occasionally seems to offer internships too.
Would not recommend Waterland for Germany. Apparently, they have a very bad culture here. Very high turnover and it seems like this is well known across the German industry as they can‘t fill their spots. Pay below average but their returns are one of the best in Europe.
Don’t know for other offices though.
Besides maybe CD&R, HH rarely do intern recruitment for UMM / MF in the EU.
My best tip would be to type in "Private Equity Intern" or Private Equity Off-Cycle Analyst" on LinkedIn. This will show you the firms that take interns. Send your CV to Principals / Senior Associates as they usually run the process. A lot of these firms do not publically advertise interns, and you can only "apply" by reaching out yourself. You can benchmark your Resume towards previous interns, if you see that your resume is sub-par, then maybe best to hold on until you get a bit more experience. Likewise, some Snr. Associate / Principal may ignore your email, you can still reach out to other people in the team, obviously don't spam but you get me.
A lot of these funds do not want to "train" interns and only want to use them as cheap labour. Make sure your technicals are up to date, because if there is no value exchange for them, then it will be hard to get an offer.
Would also connect with previous interns. Did an internship 2-years ago at a MF, when I finished they asked me if I had any friends who were interested in joining the fund.
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