Intern - Private Credit / Direct Lending

Based in Paris, London, Munich, Rotterdam and Singapore, the Direct Lending platform is composed of 34 investment professionals, including 4 investment professionals in Munich. With approximately €10bn in assets under management, the platform invests in European low to mid-cap direct lending transactions, including Impact deals, as well as in Emerging Markets and Asia. The Allianz Global Investors Direct Lending platform is currently offering an internship position in the Munich office, providing the opportunity to gain hands-on experience in Private Credit investing in Europe. The team's strategy focuses on LBOs with top-tier private equity firms, targeting a wide range of investment profiles from senior to unitranche transactions. You will contribute to the structuring, credit analysis, terms and conditions negotiation, execution and asset monitoring of direct lending transactions across European markets, as well as support various activities related to the continued growth of the business. This will be a 3-month internship starting in April 2027.

• Conduct in-depth analyses of target companies, sectors, business models and markets
• Analyze due diligence reports
• Perform financial modelling and sensitivity analyses
• Prepare investment committee materials and company profiles
• Prepare marketing materials.

• Enrolled student in Business Administration, Accounting, Finance, Economics or a quantitative degree at Master's level or an advanced stage of a Bachelor's program
• Excellent academic achievements
• Previous internship experience in Investment Banking, particularly Leveraged Finance, M&A or Debt Advisory, Private Credit/Direct Lending, Private Equity or Transaction Services
• Excellent analytical skills and a high level of attention to detail
• Proven interest in financial markets, Private Equity and M&A
• Ability to work diligently under time pressure
• Strong team ethics
• Good knowledge of Microsoft Office, particularly Excel
• Ability to conduct research independently
• Proficiency in written and spoken English; German is advantageous
• Ability to use Microsoft Copilot, with a strong commitment to ethical and responsible AI practices.