Intern - Private Credit / Direct Lending (f/m/d)

We are currently looking for an Intern to join our European Private Credit Germany Team! The position will be based in our Munich office.   About the Job   Based in Paris, London, Munich, Rotterdam and Singapore, the Direct Lending platform is composed of 34 investment professionals, including 4 investment professionals in Munich. With approximately €10bn in assets under management, the platform invests in European low to mid-cap direct lending transactions, including Impact deals, as well as in Emerging Markets and Asia.   The Allianz Global Investors Direct Lending platform is currently offering an internship position in the Munich office, providing the opportunity to gain hands-on experience in Private Credit investing in Europe. The team’s strategy focuses on LBOs with top-tier private equity firms, targeting a wide range of investment profiles from senior to unitranche transactions.   You will contribute to the structuring, credit analysis, terms and conditions negotiation, execution and asset monitoring of direct lending transactions across European markets, as well as support various activities related to the continued growth of the business.   This will be a 3-month internship starting in January 2027.   What you do  
- Conduct in-depth analyses of target companies, sectors, business models and markets
- Analyze due diligence reports
- Perform financial modelling and sensitivity analyses
- Prepare investment committee materials and company profiles
- Prepare marketing materials.

What you bring  
- Enrolled student in Business Administration, Accounting, Finance, Economics or a quantitative degree at Master’s level or an advanced stage of a Bachelor’s program
- Excellent academic achievements
- Previous internship experience in Investment Banking, particularly Leveraged Finance, M&A or Debt Advisory, Private Credit/Direct Lending, Private Equity or Transaction Services
- Excellent analytical skills and a high level of attention to detail
- Proven interest in financial markets, Private Equity and M&A
- Ability to work diligently under time pressure
- Strong team ethics
- Good knowledge of Microsoft Office, particularly Excel
- Ability to conduct research independently
- Proficiency in written and spoken English; German is advantageous
- Ability to use Microsoft Copilot, with a strong commitment to ethical and responsible AI practices.

What we offer  
- Balanced work environment: A dynamic office culture that supports flexibility and collaboration
- Mental health and wellbeing programs (EGYM Wellpass)
- Mobility solutions (Subvention Jobticket, Deutschlandticket etc.)
- Canteen subsidy
- Corporate benefits
- … and so much more!

About Allianz Global Investors    Allianz Global Investors is a leading active asset manager, managing assets for individuals, families, and institutions worldwide. Our shared goal to shape a future of opportunity for our clients is foundational to our culture and our values. We look to attract, and actively nurture, individuals with the drive to achieve excellence at every stage of the investment experience.   We believe an inclusive culture is key to a flourishing workforce. Not only do we celebrate the broad range of experiences, backgrounds, and attributes that our workforce brings, but we support our people to live and work in a way that promotes their own wellbeing.   Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges is what makes us a unique employer.   We are united by a shared commitment: to put our clients first and at the centre of everything we do. Their needs inspire our thinking and guide our actions.   Together, we can build an environment where everyone feels empowered and confident to explore, grow and shape a better future – for our clients and for the world around us. At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. The foundation for this is our inclusive workplace, where people and performance both matter, and where integrity, fairness, inclusion and trust are at the heart of our culture.   We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.   If you feel inspired to promote the active asset management experience, this is the place for you. Join our international, technology-enabled, and agile environment. Simply upload your CV in English to apply for this position.  If you need support to navigate our websites or at any stage during your application, please send an email with your request to [email protected].     Join us. Let’s care for tomorrow.   How to Apply: Applying is quick and easy. Simply upload your CV, complete your personal details, confirm your consent for AI support in the “Additional Information” section, and submit your application.   To support our recruiters, we use Fit Score—an AI powered tool that highlights how closely your profile aligns with the role. This helps us review applications more efficiently and focus on what matters most: your skills and experience.   Good to know: The Fit Score is a support tool only. At Allianz, technology never replaces human judgment.    Every application is carefully reviewed by our recruiting teams, ensuring a fair, thoughtful, and personal hiring process.  
109047 | Asset & Investment Management | Student | n.a. | Allianz Global Investors | Full-Time | Temporary