PT Asset Management, LLC (PTAM) was founded in 2008 by partners of its affiliate, Performance Trust Capital Partners (PTCP). PTCP provides broker-dealer services for financial institutions, and saw an opportunity to take advantage of the dislocated credit markets in 2008 by leveraging its fixed income expertise and launching a hedge fund.

In 2010, PTAM launched its first mutual fund, the Performance Trust Strategic Bond Fund. As of December 31, 2022, PTAM manages approximately $5.54 billion in assets across multiple products, including mutual funds and separately managed accounts for institutional investors.