Help Me Pick Between Two Very Different Options

I'm sorry for using a burner account but I don't want to give anything away here.
I'm current a banking analyst and I'm weighing three options for a new role next summer (2019). I would love to get input from more experienced folks as they're a little different. I think long-term I would prefer to work in with more alternative or distressed assets than doing vanilla PE or going to a L/S hedge fund, but I say that not having enough experience to be certain.
Option 1 is a smaller PE fund in a secondary city (fund size under $1bn). Performance seems like it has been good and there's good activity. Exit options for recent associates seems pretty underwhelming though.
Option 2 is a balance sheet investor in a major city. Does direct investing so I wouldn't be doing any of the fund evaluation or sponsor finance work that a lot of BS investors seem to do. Past associates have gone onto interesting if not related roles. Little more varied in their approach so may get into more interesting transaction structures and assets. More room to stay and move up if performance is good that there would be at Option 1.
Option 3 is to put my hat back in the ring. I have no interest in 2020 recruiting so I would be continuing to press for 2019 options. I think I have a pretty strong background and have done really well in the processes I've been through so far so it seems likely I could find something in the LMM space, but nothing is certain.

Option 1 and 2 are pretty comparable in compensation (~$200k all-in give or take) and I like both teams well enough. Thanks for the help.