Private Equity Internship - Astorg Mid-Cap (Frankfurt) // September 2026

• Astorg is a leading European PE fund with over €24bn of assets under management and over 68 investment professionals with diverse nationalities, networks, and backgrounds across offices in London, Frankfurt, Paris, New York, Milan, and Luxembourg
• Amongst other funds, Astorg currently invests from its Mid-Cap Fund I (ca. €1.3bn), which is focussed on international mid-sized companies with headquarters in Europe from four sectors: tech / software, healthcare, business services
• Astorg’s Mid-Cap team consists of 17 investment professionals with a background in private equity, consulting, and investment banking. The German office is an integral part of the Mid-Cap team with headquarters in London. As part of the Frankfurt-based team, you may be required to travel to London to attend meetings
• Astorg is characterized by a highly entrepreneurial mindset and proactive approach thanks to a swift decision-making process and hands-on shareholding philosophy

• Join the established team of the €1.3bn Mid-Cap Fund, that has already completed seven investments
• Work cross-border / cross-nationalities with the full investment team of Astorg Mid-Cap
• Take part in all aspects of the investment process (origination, due diligence, acquisitions, divestments, portfolio management, co-investment etc.)
• Carry out financial and strategic analyses as well as operational and financial modelling of potential acquisition targets
• Benefit from a comprehensive experience driven by the diversity of the analysed sectors (healthcare, B2B services, industrials, software etc.) and diversity of the people you will interact with (managers, strategy consultants, bankers, lawyers, auditors, limited partners etc.)

• Starting date: September 2026
• Duration: 4-6 months
• Location: Frankfurt am Main, Germany
• Compensation: Competitive

Key Responsibilities

• Supporting formation of investment theses on potential acquisition targets
• Performing research to gather information about companies of interest
• Conducting operational and financial modelling
• Preparing syntheses, analyses and memos to present businesses internally
• Presenting points of view on investment opportunities

Skills, Knowledge & Expertise

• University degree (Business Administration, Economics, Natural Science, etc), with outstanding academic track record
• Previous internship experience in M&A investment banking, Management Consulting or Private Equity is highly preferred
• Native German and fluent English speaker
• Strong analytical skills
• Good communication skills
• Strong verbal reasoning
• Ability to work under pressure and independently, and manage deadlines
• True team player
• Enjoys entrepreneurial environments where autonomy and initiative are encouraged
• Proficiency in Microsoft Word, Excel, and PowerPoint