2026 Five Arrows Direct Lending Long Term Internship - London

Long Term Internship - Five Arrows Direct Lending (EMEACountry: United Kingdom)

This London-based 6-month internship offers the opportunity to intern with the Five Arrows Direct Lending business.

Five Arrows Direct Lending provides customised senior and subordinated debt financing solutions to privately owned businesses across the European mid-market. Capital solutions include unitranche, second lien and mezzanine debt, as well as PIK notes, preferred equity and minority common equity, enabling the team to structure optimal financing packages for each opportunity. The team focuses on three core sectors: “Healthcare and Education”, “Software, Data and IT Services”, and “Business and Financial Services”.

The Five Arrows Direct Lending team comprises 18 investment professionals operating from three offices: London, Paris and New York. The long-term internship provides the opportunity to work as part of a lean deal team, conducting extensive in-house research and, in each case, constructing an investment structure to appropriately balance risk and reward.

Five Arrows Direct Lending currently invests from its fourth generation fund (Five Arrows Debt Partners IV), a €2.4 billion committed capital fund. Five Arrows is the alternative assets arm of Rothschild & Co and manages approximately €30 billion in assets across a range of private debt, public debt and private equity strategies.

Responsibilities

• Act as a fully integrated member of the investment team with exposure to all stages of the investment process.
• Industry and Company Due Diligence: Conduct in-depth research on industries of potential investment targets, and analyse targets’ historical performance and future prospects.
• Financial Modelling: Develop and maintain customised financial models.
• Investment Process Coordination: Support coordination of due diligence and transaction processes internally and with external advisers.
• Investment Evaluation: Formulate and articulate views on the credit quality of potential investments and what defines an exceptional business from a lending perspective.
• Committee Memos: Prepare detailed memos for the investment committee.
• Deal Execution: Assist in executing deal workflows and monitor existing portfolio companies.
• Relationship Building: Enhance relationship skills through exposure to senior investors and investment committee members.

Skills and Attributes

• Intellectually curious, analytical and motivated to learn.
• Genuine interest and enthusiasm for understanding businesses and assessing investment quality.
• Proactive approach and perseverance to deliver results.
• Ability to work independently and take a high level of responsibility.
• Ability to build effective relationships across individuals, teams, lines of business, and geographical/cultural boundaries.
• Excellent listening skills.
• Ability to communicate clearly, persuade and influence.
• Understanding of the fundamental principles and application of corporate finance.
• Enthusiasm for developing these skills and applying them creatively.
• Ability to build long-term, professional relationships with management teams, private equity sponsors and advisors.
• Good understanding of financial statements (P&L, cash flow statement and balance sheet).
• Advanced Microsoft Office skills (Word, PowerPoint and Excel).

Qualifications

• Outstanding academic track record.

Note: Prior experience in finance is not required.