Private Markets versus Public Markets

I recently finished an internship in an Asset Management firm (small shop, 0.5bn AUM), and began to realize that despite enjoying following the markets, I did not want a job directly tied to it. While I've tried to decipher what exactly I did not like, I found it difficult to exactly place it.

My reasons are possibly -

1) Stress involved with making a large position that is publicly viewed. I.e your investors can see when you're making money and losing it. Unlike PE, I feel the transparency makes it even more stressful, as investors can pull money easily out.

2) Value add. Honestly for your run of the mill fund, I feel like that value-add is minimal, and I would rather just encourage clients to invest in an index fund etc.

Some of the experienced monkeys who chose PE over HF/long only funds, I was hoping to get your insights on why you chose it over the other, and whether you regret doing so.

My experience in PE is absolutely nil (except reading some posts on WSO), and I just entered my sophomore year. I'm looking at targeting some of the boutique PE funds for my sophomore internship in addition to boutique IB's, and I'm looking for a convincing answer to why private markets over public markets.

I guess since I'm gunning for IB, If I do make it I will probably have to make the PE vs HF vs industry choice, so the more the knowledge the better!