Despite the backdrop of the European sovereign debt crisis, "when you look at it day-to-day, things are actually better in the industrial businesses in Europe. You have to go country to country," Tom Lister, co-managing partner of the European private equity firm with global reach Permira Advisors, told CNBC Wednesday.
"Europe is better as a long-term matter than anybody gives it credit for because everybody reads about Greece," Lister said.
"The less consumer-facing businesses you have, the better off you are. We found very interesting things to invest in, and every time that this conversation goes on around the world fewer people are interested in this," he added.
"I think you look at the relative strength of Germany and the United States or the relative strength of France and the United States, and the euro is still fairly valued today."
But there are definitely challenges in Europe, Lister added. "You have to be careful how you do it. You have to capitalize your investments properly."
It will get better over time because "at the end of the day the steps that have been taken have been are very credible," he said.
Earlier this week the European Commission approved the joint venture between Permira and France's AXA to acquire the online travel agent Opodo and merge it with other units (Go Voyages and eDreams). This deal will create one of Europe's largest online travel agencies.
"We have a firm of ten investing offices around the world and we're most successful where we integrate more than one of those geographies," he said.
In addition, Permira has been a "big issuer of debt over the last six months," Lister explained. "We've raised about 2.5 billion euros for our portfolio companies, pushed out maturities—taken the benefit of them—and for a number of the companies that saves them 30 million, 40 million euros a year of benefit, that's a lot."
"If you go back overtime the ability to have 8 percent, 9 percent financing for nine or ten years on pretty attractive terms, I think that's capital you take all day long,"
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