Featured analysis
A 715p bid for a 577p business.
Two private equity bidders circled easyJet. I valued it not as an airline question but as a limited partner question, for Athene, an investor inside the Apollo fund deciding whether to commit further capital.
The model did not fail on the discount rate. It failed on a capex line carried at 9% of revenue for an airline mid fleet replacement. Corrected to 14 to 22%, the conclusion reversed.
Read the full analysis →| Basis | Price | vs fair value |
|---|---|---|
| Blended fair value | 577p | baseline |
| Castlelake bid | 690p | +19.6% |
| Apollo bid | 715p | +23.9% |
Selected work
Valuation, governance, and a book run across five asset classes.
Valuation
The easyJet bidding war
Castlelake at 690p, Apollo at 715p, fair value near 577p, and an LP deciding what to do about it.
Read →Corporate governance
Repsol activism defence
Who holds the register, where the swing votes sit, and what the board says before a campaign goes public.
Read →Markets
A $100m multi-asset book
Equities, crude, index futures, peso and credit. Curve steepeners, DV01 neutral sizing, Kelly as a ceiling.
Read →Competitions
Measured against a benchmark, not described.
9.4%
Natixis Students Investment Challenge return against a 1.8% benchmark. Sharpe 2.04, beta 0.35.
2nd
Globally in manual trading, IMC Prosperity 4. Top 6.5% overall of 18,803 teams.
80+
MSc FinTech students represented as elected Careers Leader at Imperial.
Experience
Where I have worked.
- Project Manager, Blackmont ConsultingApril 2026 to present
- Consultant, 180 Degrees Consulting ImperialFebruary 2026 to present
- Careers Leader, MSc Financial TechnologyImperial College London
Contact
Open to strategy and corporate finance roles.
And to anyone who wants to argue about a valuation. The fastest way to reach me is email.
sumedh.garimella02@gmail.com →