Chicago-based alternative investment firm Performance Trust Investment Advisors has rebranded its name to Performance Trust Asset Management (PTAM).

Doug Rothschild the firm’s president said: "The new name better reflects our primary focus on being an asset manager for institutional investors."

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Since the launch its first hedge fund in 2008, the firm has grown rapidly in terms of both assets and products.

PTAM, an institutional-class platform, has recently hired Ethan Youderian as senior portfolio manager and managing director at Citadel Investment Group.

Youderian currently manages PTAM’s newest product, a fixed income-focused hedge fund vehicle, which is expected to launch in the first quarter of 2014.

Following the name change, the ticker symbols for PTAM’s two mutual fund products will remain unchanged.

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PTAM specializes in the credit and fixed income markets and manages approximately US$1 billion as of 30 September, 2013.