LindaRose Piccolo '24
I am currently a junior in the ILR School pursuing minors in Business and Law and Society. This summer, I moved to Nashville, Tennessee to work at AllianceBernstein (AB), an asset management firm, on the Business Development team of their Private Alternatives department. The internship program was 10 weeks long and such a great experience!
What is Private Alternatives / Business Development?
“Private Alternatives” refers to any investments that are not publicly-traded stocks or bonds. At AB, the Private Alternatives Department is split into 2 divisions - Private Credit Investors (PCI) and Commercial Real Estate Debt (CRED). Within each division, there are multiple “funds,” or pools of monetary investments. The Business Development team’s role within Private Alternatives is to commence new client relationships and maintain relationships with current investors.
I had two main projects throughout my internship, both took about 5 weeks to complete and allowed me to explore my interests in business and law.
My first project focused on merging two systems of data that housed responses to frequently asked questions by potential new investors about AB’s investment strategies. Pooling the data into one place now allows the team to onboard clients at the fast pace that Private Alternatives demands. During my second project, I constructed a document of all of the rights of investors in one fund. This document was then sent out to investors as a means of maintaining proper communication between parties, as well as ensuring that investors and AB remain in compliance with federal regulation.
In addition to my two projects, the Campus Recruitment team had fun activities to help interns become acclimated to life in the company, Nashville, and corporate America. We participated in networking events, panels with CEOs and top executives, training sessions for various software and systems, volunteer days, baseball games, parades, and more. These activities provided an opportunity to enhance my own personal skills and connect with interns from all over, including California, Mississippi, Singapore, and Egypt!
What was living in Nashville like?
I had never been to Nashville or Tennessee prior to starting my internship, so I was nervous about moving far away from home by myself. However, what I quickly found was that living on your own in a new city is exactly like living on your own for the first time in college. I spent my free time exploring the city, knocking on my neighbors’ doors, and going out to lunch, dinner, or even concerts with other interns to get to know each other - just like my first year at Cornell.
- Relationships matter - make sure to stay connected to those you work with, even after you leave your job, because you learn so much from other people’s experiences. That is also how you find great mentors and inspiration.
- Try something new! You never know what new places, jobs, or hobbies you might enjoy, so step outside your comfort zone a little bit.
- It is ok to be nervous about being the only person or being in a new environment like I was, but just remember you can conquer anything you put your mind to!