Cherng Family Trust

Last updated
Cherng Family Trust
Company typePrivate trust
Industry Investment trust
Founded2001;24 years ago (2001)
Founders Andrew Cherng and Peggy Cherng
Headquarters
Rosemead, California
,
United States
Website www.cherngfamilytrust.com

The Cherng Family Trust is an investment trust founded by Andrew Cherng and Peggy Cherng, the co-founders of Panda Restaurant Group, parent company of Panda Express. [1] Founded in 2001, the trust owns Panda Restaurant Group, and has other ownership stakes in a variety of businesses, including an announced ownership stake in the Portland Trailblazers. [2] The family trust is headquartered in Rosemead, California, and has $3.1 billion in assets. [3]

History

The trust was founded in 2001 by Andrew Cherng and Peggy Cherng. [4] It opened a new office in 2005 that it shares with Panda Restaurant Group. [5] Cherng Family Trust invested in Just Salad starting in 2014. [5] It was part of a group the purchased The Cosmopolitan of Las Vegas real estate assets in 2021. [6] [7] [8]

The trust purchased an office building in Cypress, California, for $22.1 million in 2021. [9] The trust also opened a retail center in Las Vegas, Blvd, in 2024. [10] In 2025, the trust joined the investment group headed by Tom Dundon to purchase the NBA's Portland Trailblazers from the estate of Paul G. Allen. [2] [11] [12] [13]

References

  1. ↑ "Profiles: Andrew and Peggy Cherng". www.international.ucla.edu. UCLA. Retrieved 13 September 2025.
  2. 1 2 Auden Land, Joni. "Allen Estate announces official agreement to sell Trail Blazers". OPB. Retrieved 13 September 2025.
  3. ↑ "Largest And Global Sovereign Wealth Fund Institute | SWFI". www.swfinstitute.org. Retrieved 13 September 2025.
  4. ↑ "About CFT Capital Partners | Alternative Investments". Cft Capital. Retrieved 13 September 2025.
  5. 1 2 Anderson, Caroline (24 November 2016). "Chinese Food Pioneers Fill Plate". Los Angeles Business Journal. Retrieved 13 September 2025.
  6. ↑ "Blackstone Announces Sale of The Cosmopolitan of Las Vegas | Stonepeak". stonepeak.com. 27 September 2021. Retrieved 13 September 2025.
  7. ↑ "Las Vegas hotel Cosmopolitan being sold in $5.65B deal". www.nevadaappeal.com. The Associated Press. Retrieved 13 September 2025.
  8. ↑ Shriber, Todd (25 August 2023). "Realty Income Buys Bellagio Stake From BREIT For $950 Million". Casino.org. Retrieved 13 September 2025.
  9. ↑ "Panda Express Family Adds to OC Holdings". Orange County Business Journal. 30 August 2021. Retrieved 13 September 2025.
  10. ↑ Firtea, Diana (18 December 2023). "Las Vegas Shopping Center Tops Out". Commercial Property Executive. Retrieved 13 September 2025.
  11. ↑ Oram, Bill (12 September 2025). "Allen estate formally agrees to sell Trail Blazers to group led by Tom Dundon". The Oregonian/OregonLive. Retrieved 13 September 2025.
  12. ↑ Novy-Williams, Eben (12 September 2025). "Dundon Group, NBA's Trail Blazers Sign Formal Purchase Agreement". Sportico.com. Retrieved 13 September 2025.
  13. ↑ Freeman, Joe (13 September 2025). "Panda Express founders join Tom Dundon in Portland Trail Blazers purchase". The Oregonian/OregonLive. Retrieved 13 September 2025.
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