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That's a tough call...depends what you will actually be doing day to day in each one. Also if you are just a freshman or sophomore than top PE might be better just for the name.
I'd go with the Fund of Funds, but you should ultimately choose the job function that interests you the most and will give you the most responsibility / best experience.
Don't underestimate the name of a top shop on your resume. I'm from a semi-target and am confident I landed a lot of interviews solely on the basis of having worked at a top hedge fund (soros, tudor, etc). Think about how quickly bank go through resumes and realize how a top name will jump out at whatever analyst/hr is reading your resume.
That said, if the FOF is a good firm and you'll be doing really analytical work, then I don't think you can go wrong with either pick.
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