Muddy Waters Capital Names Terrence Ing as Head of Credit

SAN FRANCISCO, May 11, 2016 /PRNewswire/ -- Muddy Waters Capital LLC ("Muddy Waters"), a leading activist investment firm, is pleased to announce that Terrence L. Ing has joined the firm as Head of Credit. Mr. Ing will identify opportunities for activism within the corporate credit market, including investment grade credits that could re-rate to high-yield, and in companies with financial statements that obscure economic reality through heavy use of financial engineering.  Mr. Ing will also assist Muddy Waters with expressing its views through derivatives and various securities across the capital structure.

Prior to Muddy Waters, Mr. Ing served as a portfolio manager and senior analyst for PIMCO's $3.3 billion Global Credit Opportunity Hedge Fund, where he focused on cross sector credit relative value and long /short opportunities. In 2015, the fund was recognized by Absolute Return as the best hedge fund in the Credit & High Yield (above $500 million) category.

"I've known Terry for many years and his experience analyzing complex corporate and capital structures on both the equity and debt side will further enhance our robust research and investment process," said Carson C. Block, Founder and Director of Research at Muddy Waters Capital. "I'm excited he is joining the team."

"Muddy Waters is an important skeptical voice in the marketplace and I've admired their work since the firm was founded," said Mr. Ing. "Carson and I share a passion for uncovering truths about companies that the market has yet to discover."

Prior to working for PIMCO's Global Credit Opportunity Hedge Fund, Mr. Ing was a senior credit analyst responsible for U.S. telecom, media and technology sectors and managed a team of analysts. Prior to joining PIMCO in 2007, he was a senior analyst at Wells Fargo's securities investment group, covering various sectors, and generated cross sector relative value ideas. Previously, he was an equity research analyst at Credit Suisse First Boston. He has 16 years of investment experience and holds a master's degree in mathematics of finance from Columbia University and an undergraduate business administration degree from the University of Southern California.

About Muddy Waters Capital LLC

Muddy Waters Capital LLC, along with its affiliate Muddy Waters, LLC, is an alternative investment firm and pioneer in on-the-ground, freely published investment research. The firm's investment and research process looks beyond the veneer put in place by a company's management and wide-eyed analyst community. Muddy Waters prides itself on being able to see through the opacity and hype that some managements create in order to expose business and accounting fraud as well as fundamental problems at companies across the globe. Its research approach combines diverse talents, including accountants, trained investigators, valuation experts and entrepreneurs, many of whom have hands-on experience running businesses in the U.S. and emerging markets. For more information, please visit www.muddywatersresearch.com or follow on Twitter at @muddywatersre.

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SOURCE Muddy Waters Capital LLC

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