Internship, Private Equity Performance Improvement, Paris

Description Internship – Private Equity Performance Improvement (PEPI), Paris Start dates: September 2026, January 2027, or March 2027

• 6 months

Please indicate your preferred start date in your application. About Alvarez & Marsal Alvarez & Marsal (A&M) is a global consulting firm with entrepreneurial, action and results-oriented professionals. We take a hands-on approach to solving our clients' problems and assisting them in reaching their potential. Our culture celebrates independent thinkers and doers who positively impact our clients and shape our industry. The collaborative environment and engaging work—guided by A&M's core values of Integrity, Quality, Objectivity, Fun, Personal Reward, and Inclusive Diversity—are why our people love working at A&M.

The Team You will join A&M's Private Equity Performance Improvement (PEPI) team in Paris, which operates at the intersection of strategy, operations, and finance across the full private equity lifecycle. The team supports private equity funds and their portfolio companies on pre-deal due diligence, carve-outs and merger integration, value creation plan development, and post-deal transformation.

We combine financial, operational, and commercial analysis to identify and deliver measurable performance improvement opportunities. We leverage data, digital tools, and AI as enablers of value creation for our clients and their portfolio companies.

Our flat, entrepreneurial structure gives you significant exposure to senior leaders and hands-on learning opportunities, allowing you to work directly with experienced professionals across the team.

How You Will Contribute As an intern in the PEPI team, you will support private equity firms and their portfolio companies across the investment lifecycle, from pre-deal assessment to post-deal value creation and performance improvement. Your work will be analytical, practical, and closely connected to the development and execution of value creation plans, including:

• Financial modeling and analysis: building and stress-testing P&L analyses, business plans, and value-creation cases, including related cash-flow projections.
• Value creation and performance analysis: working with operational, financial, and commercial data to identify, size, and prioritize cost-reduction, margin improvement, cash generation, and growth opportunities, both pre-deal and post-deal, as inputs into value creation plans.
• Transaction and due diligence support: supporting operational and commercial due diligence, data-room reviews, KPI analysis, and identification of key risks and upside opportunities under deal timelines.
• AI-enabled value creation: identifying and applying AI as a lever and enabler of value creation and performance improvement, including to accelerate analysis, enhance decision-making, improve operational efficiency, and support practical client solutions.
• Reporting and communication: translating analysis into clear, structured outputs, including executive-level presentations, performance dashboards, and actionable recommendations for senior stakeholders.

Throughout the internship, you will work alongside the team, from analysts to Managing Directors, with regular feedback that allows you to deepen your modeling, problem-solving, communication, and consulting skills in a live private equity and portfolio company environment.

Qualifications

• Currently studying at a leading Grande École (Engineering and/or Business School), or top university, including double-degree profiles in Engineering and Business.
• Strong quantitative and analytical skills, with sound attention to detail and comfort handling financial, operational, and commercial data.
• Excel proficiency, with some experience in financial modeling; Python or other analytics & coding tools are a plus.
• Curiosity and practical interest in how AI and digital tools can act as enablers of value creation, performance improvement, and better client outcomes.
• Ability to prioritize and perform under pressure in a fast-paced environment.
• Excellent verbal and written communication skills in both French and English; additional European languages such as Dutch, German, Italian, or Spanish are a plus.
• A strong interest in private equity, operational performance, and value creation in portfolio companies.
• Entrepreneurial mindset, intellectual curiosity, and a genuine interest in making a measurable difference for clients.

The Recruitment Process Includes

• An online psychometric test and an Excel test
• An interview with our HR team
• Two interviews with members of the PEPI team

Your Journey at A&M We recognize that our people are the driving force behind our success, which is why we prioritize an employee experience that fosters each person's unique professional and personal development. Our robust performance development process promotes continuous learning, rewards your contributions, and fosters a culture of meritocracy. With top-notch training and on-the-job learning opportunities, you can acquire new skills and advance your career.

We prioritize your well-being, providing benefits and resources to support you on your personal journey. Our people consistently highlight the growth opportunities, our unique, entrepreneurial culture, and the fun we have together as their favorite aspects of working at A&M. The possibilities are endless for high-performing and passionate professionals.