Summer 2026 Intern - Investments Private & Public Equity

As a State Farm intern, you will have the opportunity to collaborate with experienced professionals, contribute to meaningful projects, and make a real impact. Our internship program provides students with valuable training, mentorship, and networking opportunities while being fully immersed in the day-to-day operations of a Fortune 50 company. At State Farm, we believe our interns are the future of our company, and we are committed to helping you succeed!

The State Farm Investment Department is a leading investment manager, entrusted with managing over $400 billion in assets to support the leading personal auto and home insurer in the United States. State Farm is a Fortune 50 company and is consistently recognized as a top employer in the United States. In the State Farm Investment Department, we manage a multi-billion-dollar investment portfolio across various asset classes - Corporate Bonds (Public and Private), Municipal Bonds, Structured Products (ABS, RMBS, CMBS), Sovereign Debt, Private Equity, Public Equity, Commercial Mortgage Loans, and Real Estate. Through sound investment strategies, the Investment Department helps State Farm remain financially strong, so our customers can manage the risks of everyday life, recover from the unexpected, and realize their dreams. As a member of our high performing team, you will interact with senior Investment Department staff, as well as receive several cross-asset learning opportunities. We will rely on you as a key partner to assist with due diligence research, financial modeling, and investment decision-making. Investment interns will be a part of State Farm's growing investment platform at CityLine in Richardson, Texas, within the fast-growing Dallas-Fort Worth metro area.

We are looking to hire interns to work within Private/Public Equity. This is in addition to other internship opportunities within the Investment Department working with 1) Commercial Mortgage Loans and Real Estate and 2) Fixed Income (Corporate Bonds/Structured Products/Liquidity Management).

What You'll Do

Your time and responsibilities will be split evenly between State Farm's public equity team, which invests in high quality publicly traded common stocks, and State Farm's private equity team, which invests in domestic private equity partnerships

• Support the public equity team through research and analysis of existing investments as well as involvement in the identification and selection of prospective investments
• Gather, analyze, and evaluate information about companies using in-depth primary research obtained through company filings, quarterly earnings calls, management meetings, and investor presentations
• Assess a company's industry position, competitive differentiation, management team, and key risk considerations, leading to a recommendation for potential inclusion in State Farm's equity portfolios
• Assist in the screening and due diligence of private equity general partners to support the continued growth of the program
• Prepare annual review presentations and gain exposure to private equity general partners as well as other industry contacts
• Prepare written analysis and present findings for debate and discussion
• Collaborate with colleagues across investment asset classes to share information, expertise, and ideas

What's In It for You

• Inside look into the management of a growing lower middle-market private equity program with over $9 billion of commitments as well as exposure to a quality-focused, long-term oriented institutional equity manager with over $150 billion in common stock holdings
• Gain a deeper understanding of the investment industry, State Farm's investment philosophy, and other asset classes within the Investment Department
• Receive personalized mentoring and coaching from experienced professionals to further your individual development
• Engage and participate in a dynamic and collaborative team culture
• Network with senior leaders and external investment industry professionals
• Collaborate and build relationships with other talented interns
• Create experiences that can be leveraged throughout your future career
• Join a culture that embraces healthy discourse and promotes diversity & inclusion

• Current college student with junior year completed by start of the internship
• Evidence of academic (3.5 GPA or above preferred) and personal achievement
• Coursework in areas such as Investments, Accounting, Financial Statement Analysis, Economics, and Corporate Finance
• Analytical, inquisitive, energetic, and self-driven personality with a passion for investments and financial markets
• Prior experience performing independent investment analysis
• Strong written and verbal communication skills with an ability to articulate, support, and document research findings
• Ability to collaborate and engage in a dynamic team setting
• Applicants must be authorized to work in the United States at the time of hire

Internship Information

• Location: Richardson, TX
• Our internship will occur: June 1, 2026 to August 7, 2026.
• Competitive candidates will be invited to participate in online interviews during the fall of 2025
• Hourly Rate: $33.00/hour based on a 38.75-hour work week
• Housing stipend of $2,000 payable upon start of internship
• Hybrid work environment (Combination of in-office time and working from home)

We are excited to offer our interns a tailored set of benefits with a range of valuable perks to help support you during your time with us!

Time Off

• 40 hours of Life Leave
• Military Leave

Financial Benefits

• 401(K) Savings Plan (Eligible at age 18)
• Mutual Funds (Eligible at age 18)
• Commuter Benefits

Miscellaneous Benefits

• Wellness programs
• US Discount program
• Good Neighbor Grant program
• Matching Gift program
• Employee Assistance Fund
• Company Holidays

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