Last night I soloed Fenrir. The fight is timed and you have 30 minutes like the other avatars to beat him. The opening cutscene takes about 1 minute so you are left with about 29 minutes to kill him. I beat him with a little more than 4 minutes left. Here is my setup/gear/strat:
Setup
Maxed Summoning Skill
Capped Summoning Skill merits
~1200 MP
10 (used 9) Yagudo Drinks
1 Pro-Ether (can use two during the event)
Used Ifrit and Leviathan
Gear
Carbuncle Mitts (reduce perp by half 13->6)
HQ Elemental staves (perp -3)
Conjurer's Ring (perp -1 if HP < 75%)
Yinyang Robe (Refresh 1 MP / 3 seconds)
Austere Hat
Perpetuation cost
13 - At 75 an elemental avatar's perp is 13.
6 - Carbuncle Mitts are bugged and cut every avatar's perp by half rounded down
3 - HQ staves
2 - Conjurer's Ring white active (HP < 75%)
MP Regen
1 - Auto Refresh
1 - Yinyang Robe
2 - Yagudo Drinks (Book refresh gets wiped when you enter event)
4 - Total
Total MP per tick when avatar is out = +2
Strategy
No buffing at start, you should not get hit unless you plan to
*Get hit once or twice during transitions to activate Conjurer's ring's latent effect
The mana burnning phase (when your mana is over 175)
1) Summon Ifrit & send him in
2) Use Flaming Crush blood pact
3) Run to the other end of the room
4) Keep Yagudo drink buff up
5) When pet dies, restart at 1
The mana saving phase (when your mana is under 175)
1) Summon Leviathan & send him in
2) Use Water II blood pact
3) Run to the other end of the room
4) Keep Yagudo drink buff up
5) When pet dies, restart at 1
If blood pacts get out of sync and you cant use it as you transition to the new pet, dont waste time near Fenrir to use it (especially around 25-60% where he is likely to use his Astral Flow move). Your pet is likely to die before you get to a safe place to summon a new one. Just take the loss of a blood pact and it will be back on sync for the next transition.
Possible ways to improve
Merit group1 (MATK and ATK 5/5)
Merit group2 (if they work)
Evoker's Ring
Summoning Torque
Austere/Penance Legs
Austere/Penance Feet
Penance Hat
Summoner's Hands (+1)
2nd Pro-Ether
Fight on a Fire/Water day (mine was during Earthsday)
Fight at new moon (mine was about 40%)
Get hit sooner to activate Conjurer's ring (think I activated mine around the halfway mark)