Yiannis Manalis

Yiannis Manalis

Principal — Infrastructure & Real Asset Advisory

Athens, United Kingdom

#OpenToWork

About

Senior investment and strategy professional with over a decade of experience providing corporate finance and strategic advice on major capital decisions — built at EY (Strategy & Transactions), Heathrow Airport, and as Founder & Principal of Manalis Consulting in Athens. I advise organisations on where to invest, what to acquire or divest, and how to allocate capital — shaping the strategy behind multi-billion-pound infrastructure portfolios and complex M&A and financing transactions. My work sits where strategy, capital, and execution meet, partnering with C-level leadership to translate commercial objectives into clear, defensible decisions. An engineer by background, I bring commercial judgment, financial rigour, and the ability to lead through complexity. I operate across strategic, investment, and advisory mandates, with particular strength in capital-intensive sectors.

Experience

Founder, Principal — Infrastructure & Real Asset Advisory

Manalis Consutling

Apr 2025 – Present

Conducting real asset investment analysis and due diligence across real estate and infrastructure, covering asset valuation, land acquisition, and capital structuring. Engaged by a Greek Infrastructure authority to support European Commission strategy initiatives.

Asset valuationCapital structuringInvestment analysis

Manager, Corporate Finance — Infrastructure, Strategy & Transactions

Ernst & Young LLP

Oct 2021 – Nov 2024

Developed a sell-side M&A advisory pack for the disposal of Bournemouth, Exeter and Norwich airports, a portfolio subsequently acquired by ICG for ~£200m, including asset valuation, comparable transaction analysis, buyer universe mapping across infrastructure funds and aviation investors, and recommended sale process and pricing strategy. Executed full transaction advisory for the acquisition and reopening of a distressed regional UK airport with a pre-closure peak of 1.4m passengers, covering owner negotiations, investor engagement, bid evaluation, and financial structuring. Advised the Welsh Government on ownership structure and financing options for Cardiff Airport, covering privatisation, joint venture structures, and debt/equity scenarios, producing a strategic options appraisal for senior stakeholders. Modelled debt restructuring scenarios for the Nottingham Express Transit Light-Rail PFI, a ~£220m funded infrastructure asset — covering loan extension options and liquidity analysis across post-COVID passenger recovery assumptions. Produced the 10-year company-wide financial model for Govia Thameslink Railway, the UK’s largest train operating company with ~£1.3bn annual revenues, underpinning the successful award of a national operations contract. Built the cashflow model for the £2.3bn TfL Docklands Light Railway operational concession bid, supporting business plan development and financial analysis for the capital allocation decision. Engaged across multiple stages of the UK’s £20bn carbon capture and storage programme on financing strategy and economic regulatory policy, producing financial analysis and submissions for government and industry stakeholders. Evaluated economic and financial submissions for a government EV fleet financing programme, assessing investment viability, funding structures, and return assumptions across competing bids.

Financial modellingM&A advisoryDebt restructuring
Heathrow Airport Ltd

Senior Investment Analyst — Investment Finance

Heathrow Airport Ltd

Nov 2016 – Jun 2020

Senior management team: investment oversight of a £4bn capital portfolio spanning Expansion, Additional Capacity, Future T2, Commercial Property, IT, Airport Resilience and Baggage Produced investment appraisal recommendation papers for Heathrow’s Investment Committee, covering capital allocation decisions across the £4bn portfolio. Developed a scenario model supporting capital allocation decisions in the £1–2bn range, incorporating sensitivity analysis, phasing options, and prioritisation frameworks. Led development of a standardised investment appraisal model linked to consolidated financial statements, adopted across finance and commercial functions. Built a portfolio master model of £8.4bn enabling Board-level cost control and capital prioritisation decisions during COVID-19. Reviewed and assured investment business cases at IC decision stage across expansion and development programmes, with cross-functional engagement across regulatory, commercial, and finance teams. Recipient of the Heathrow Finance Award — recognised for contribution to investment analysis, development of new appraisal metrics and scenario evaluation models in support of the airport expansion finance strategy

Investment appraisalScenario modellingFinancial analysis
Turner & Townsend LLP

Assistant Project Manager — Real Estate Consulting

Turner & Townsend LLP

Sep 2015 – Nov 2016

Acted as client-side Project Manager across 4 concurrent high-end real estate projects totalling circa £35m, with full financial management and oversight of budgets and expenditures. Led front-end project development from inception through contract award, including procurement strategy, contract structuring, risk analysis, and project execution planning. Managed internal and external project teams across consulting and contracting functions, with full stakeholder oversight. Contributed to the firm's Research & Innovation Group, co-initiating a Think Tank examining future service delivery strategies in the built environment.

Project managementContract structuringRisk analysis
Envicon S.A.

Project Coordinator — Construction Management

Envicon S.A.

Dec 2013 – Aug 2014

Managed daily operations of a 25-person construction team on a €4.5m EU-funded wastewater treatment facility, with full financial and technical oversight, stakeholder management, and supply chain coordination.

Construction managementFinancial oversightStakeholder management

National Service

Hellenic Army Forces

Nov 2012 – Jul 2013

Completed mandatory national service. Responsible for the mapping and creation of plans for military facilities.

MappingPlanningFacility management

Education

University College London

MSc · Project & Enterprise Management

2014 – 2015
University of Patras

University of Patras

MEng & BEng · Civil Engineering

2007 – 2013
Costeas Geitonas School

Costeas Geitonas School

School Diploma

2004 – 2007

Certifications

Steer Airport Valuation Modelling Workshop

Steer

EY Alteryx Application in Corporate Finance

Ernst & Young

EY Global Project Finance Modelling Programme

Ernst & Young

Financial Modeling & Valuation Analyst (FMVA®)

Corporate Finance Institute

Private Equity & Venture Capital

Università Bocconi

CFA Level I (Passed)

CFA Institute

Skills

m&Aproject financeStrategycorporate developmentInvestement Analysiscorporate financeSpanishFrenchEnglishGreek

Languages

Greek (Native or bilingual proficiency)English (Full professional proficiency)French (Limited working proficiency)Spanish (Limited working proficiency)