For me the answer is: it would depend on where in Europe. The EU is a big place and the countries are very different. Investing in France or Germany is different than investing in Greece or Italy. In terms both of the government regulations and the cultures. For that reason, there might not be very many people who would express interest in investing in Europe in general. But if you can cite a specific country or even group of countries, that might make it easier to respond. Just my opinion!

From my limited experience investing and dealing with investors in Europe, protection against downside risk appears to be central to investment decisions, definitely more so than in the US. This, however, varies greatly with the type of investor. In the case of a search fund/ non-traditional PE investment, I expect that the investor's degree of familiarity with the model will have an influence on their decision criteria. If you have an acquisition lined up, the question is not so much what investors are interested in, but rather whether they are interested in investing in your proposed acquisition specifically and even more importantly in yourself as the CEO of the company.