Private Credit Intern

Fund / Department Description

Carlyle’s European Private Credit team focuses on an Opportunistic / Hybrid Capital strategy called CCOF, in fund III vintage with $20bn+ AUM following its launch in 2017. The CCOF strategy seeks to provide funding or be a non-control investor in founder, family, and management-led businesses that need capital for growth, M&A, capex, liquidity, or special situations (80% of transactions). Instruments are varied, and structures are tailor-made.

The CCOF strategy occasionally supports the needs of sponsor-owned businesses through junior debt and complex transitional capital (20% of transactions). Target returns are 15–20%.

In addition, the team launched a European direct lending strategy last year, offering the opportunity to be part of a new strategy launch.

Position Summary

This opportunity is to work with the Private Credit team based in London. The role involves providing analytical support to evaluate new investment opportunities across the UK and Continental Europe. The intern will work alongside the team during the execution of new investments in these regions.

The environment is fast-paced and demanding, with a strong emphasis on learning about investing and development as an investment professional within the Private Credit sector. Candidates will work directly with senior investment professionals, be encouraged to be proactive, and take ownership of important projects.

Primary Responsibilities

• Evaluate potential investment opportunities across a wide range of industries and geographies, with guidance and as part of a team.
• Assess and present clearly the strengths and weaknesses of potential investments, using both quantitative and qualitative analysis.
• Develop dynamic operating models, perform fundamental credit analysis, evaluate return potential, optimal capital structure, and exit scenarios.
• Develop and apply understanding of key aspects of loan and bond documentation, restructuring mechanics, and insolvency regimes in various jurisdictions.
• Analyze capital structure and various debt instruments to identify the most attractive entry point, based on fundamental business valuation and downside protection analysis.
• Interact with advisors and management teams to evaluate and underwrite investment opportunities as part of due diligence processes.
• Develop relationships with other market participants to identify general investment themes and specific opportunities.
• Monitor existing investments, including liaising with management and senior team members.
• Work on potential portfolio add-on acquisitions or refinancing transactions.
• By the end of the internship, develop a strong understanding of capital structures and the levers for value creation, both financial and operational.
• Support the team in presenting opportunities to the investment committee.

Requirements

Education & Certificates

• Excellent academics in a related degree, such as Finance or Economics.

Professional Experience

• Proven interest in a career in investment management; previous internship in a similar industry preferred.
• Excellent Excel skills; strong quantitative, credit, financial modelling, and analytical skills; and a good understanding of financial and accounting valuation methods.
• Excellent research and due diligence skills with an aptitude for numeracy.
• Willingness to take initiative and drive projects to completion.

Competencies & Attributes

• Excellent interpersonal skills and ability to work effectively as part of a team.
• Self-starter with confidence in asking questions and the ability to work independently in a fast-paced environment, with a willingness to learn.
• Understanding of key capital structure and credit concepts.
• Good communication and presentation skills.
• Tenacious/persistent mindset and desire to go the extra mile.
• Mature, hard-working approach with strong executive presence.
• Solid organizational skills, high attention to detail, and ability to prioritize.
• Personal and professional integrity of the highest order.

About Us

The Carlyle Group (NASDAQ: CG) is a global investment firm with $475 billion of assets under management across 678 investment vehicles as of March 31, 2026. Founded in 1987 in Washington, DC, Carlyle has grown into one of the world’s largest and most successful investment firms, with more than 2,500 professionals operating in 28 offices in North America, Europe, the Middle East, Asia, and Australia.

Carlyle’s purpose is to connect people, ideas, and capital to fuel growth for companies and performance for investors, which range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions, and corporations. Carlyle invests across three segments—Global Private Equity, Global Credit, and Carlyle AlpInvest—and has deep expertise across industries, markets, and geographies.

At Carlyle, emphasis is placed on development, retention, and inclusion through internal processes and seven Employee Resource Groups (ERGs). The firm cultivates a culture where ideas are openly shared and challenged, connecting diverse expertise and perspectives to drive enduring value.