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Budddyyy. Unlike you I don’t need to smoke shit to get things straight. Setting up an AIF for a nobody is not a big deal. So why don’t you keep your sweatshop analogy to your self and go back crawling to where you came from.
And the reason for that is the negotiation and structuring of the fund(s) which means you invariably dabble in SEBI regulations and RBI laws (fema, NDI Rules and Debt regulations). And this isn't an exhaustive list, mind you.
If I give anymore details (fund name, investment manager), the reply won't make it through moderation.
Doing some funds work along with a PE/VC practice is great since it gives you an insight into what your client has to grapple with. But you can know this if you do 3-5 equity funds and a 2-3 debt funds.
We have very few hedge funds and that number isn't likely to increase soon due to the lack of pass through status for Cat III AIFs. But even if you're setting up a hedge fund, doing a 2-3 open ended funds should give you a good idea about drafting for and thinking through the redemption process. The complex trading strategies of a hedge fund wouldn't really impact the distribution much.
So, I think doing only funds work will get boring quite quickly. Which isn't to say that doing PE/VC/M&A work is super interesting or god's work in any way. Diligence gets boring very soon too but PE/M&A is generally more bespoke and so there are more translation templates that you need to know and understand. Ultimately, you ou just have to choose the devil you can live with and that is largely dependent on the people you work with.
Do remember that there are fewer exit options for funds lawyer than PE/M&A lawyers. So there's that to consider.
Please tell us what are you smoking
PS: After a lot of efforts I have been able to secure this internship at T1. Any guidance on shifting or if I should shift at all?
KCO, Trilegal, SAM, CAM, NDA and IC legal
However, from a first hand experience, I would suggest avoid Trilegal if you want a good work-life.
Really want to get an idea of places to apply at and places to avoid.