The Role
Six-month private equity internship supporting Astorg’s flagship fund. Responsibilities include operating and LBO modeling, quantitative and qualitative analysis, competitive and market research, due diligence participation, portfolio value-creation analysis, and preparation of investment committee notes and management presentations. Interns work closely with Associates, Investment Managers, Directors, advisors, and portfolio-company management across origination, deal execution, and monitoring.
Summary Generated by Built In
Astorg
Astorg is a private equity firm with €23bn in assets under management and offices in Paris, London, New York, Milan, Frankfurt and Luxembourg.
Since our creation in 1998 in Paris, our funds have generated a 27% annualized return.
In the latest HEC Dow Jones PE ranking, Astorg ranked as a global top 5% PE firm, the only French PE firm among the top 20 out of 563 large-cap PE firms.
We are investing from two separate funds:
- Our 8th flagship fund of €4.4bn, to be deployed in global companies valued from €500m to €3bn+ EV headquartered in Europe or the US.
- Our Midcap fund of €1.3bn, to be deployed in global companies valued below €500m EV headquartered in Europe.
Over the years, we have built strong expertise in three main sectors: healthcare, software, and business services.
We have an entrepreneurial mindset that privileges substance over process, with swift decision-making and lean deal teams.
For more information: www.astorg.com
Our team
We currently have 70 investment professionals with diverse nationalities, networks and backgrounds, of which 15 in Paris.
Universities represented in our team: Polytechnique, HEC Paris, ENS Ulm, Centrale Paris, Mines, Ponts et Chaussées, ESSEC, ENA, ESCP Europe, MIT, Harvard, Stanford, Bocconi, etc.
Former employers represented in our team: KKR, Advent, Bain Capital, Cinven, Permira, Goldman Sachs, J.P. Morgan, Morgan Stanley, Rothschild, McKinsey, BCG, Bain, etc.
Your internship in the Flagship
We have open intern positions within our Flagship. As an intern, you will only work for one of these funds. Please indicate any preferences you may have during the application process on Pinpoint.
We strive to deliver the best possible experience to our interns through balanced exposure to origination, dealmaking, and monitoring.
As an intern at Astorg, you will be an integral part of the deal team, participate in all advisor meetings during due diligence phases (strategy consultants, lawyers, auditors, bankers, etc.), contribute to senior internal discussions, and interact with management during the last miles to signing or to prepare a closing.
You will usually work with the Associate or Investment Manager on the deal with you and sometimes directly with a Director in the context of early origination efforts.
A typical internship will combine
- Modelling (operating models and classical LBO models, with some merger situations for transformative acquisitions contemplated by a portfolio company);
- Quantitative analyses (e.g., on large sales databases shared during a DD or in the context of a value creation plan for a portfolio company);
- Qualitative analyses (competitive landscape, market dynamics, etc.);
- Contributions to key internal and external documents (e.g., IC notes and management presentations).
During the internship, we regularly take the pulse with you on your progression and steer the staffing to best develop your skillset.
We see today’s interns as tomorrow’s Associates. At the end of the internship, we always consider our top performers for our open Associate positions (in Paris, a third of our deal team is comprised of former interns) and help them find the best place for them if the opportunity does not materialize at Astorg.
Candidate profile
Interns at Astorg need to have strong quantitative and qualitative analytical capabilities, good interpersonal skills and a genuine drive to learn and progress during the internship. As we believe in empowerment and autonomy at all levels of the ladder, our best interns are also reliable, rigorous, self-starters and naturally curious.
We can only consider Tier 1 academic institutions with relevant coursework.
Candidates must also be 100% fluent in both French and English to be comfortable in all situations, from casual chit-chat to highly technical discussions we typically have during expert sessions in the sectors we cover (healthcare, industrial processes, etc.). We sadly cannot consider applications if this condition is unmet, the experience and integration would be sub-optimal for both parties.
Prior internships in M&A, Strategy, or Audit are welcome but not necessary if the student has exceptional academic achievements or demonstrated the required skillset through other relevant experiences.
Practical information
We offer €2,200 per month + benefits (lunch vouchers and 50% refund of the transportation card) + a potential bonus based on performance.
Duration: 6 months, possibly reduced in case of professional or academic constraints.
Start date: March 2027.
Location: 31, avenue Pierre 1er de Serbie, Paris, France.
Key Responsibilities
n.a.
About
Astorg is one of Europe’s top private equity firms with +20 billion euros of assets under management and a portfolio of 25 companies spread across Europe and the US within the healthcare, software and manufacturing sectors. In a spirit of genuine partnership, Astorg invests in high-potential industrial and service companies, which are often family owned and backed by management teams combining operational success with an entrepreneurial drive.For more information, please refer to www.astorg.com.
Skills Required
- Enrollment at or attendance of a Tier 1 academic institution
- Relevant academic coursework
- 100% fluency in French and English
- Strong quantitative and qualitative analytical capabilities
- Good interpersonal skills
- Reliability, rigor, autonomy, self-starting attitude, and curiosity
- Prior internship in M&A, strategy, or audit
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The Company
What We Do
Astorg is a pan-European private equity firm that manages approximately €24 billion in assets. They specialize in making controlling investments in global B2B companies with market-leading positions, particularly in sectors like healthcare, software, and technology-based industrial services. The firm focuses on long-term value creation through a collaborative, listening-based approach with management teams, aiming to support sustainable growth and operational excellence across their portfolio.
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