Cherng Family Trust
Offices in Rosemead, California, U.S. | |
| Company type | Private trust |
|---|---|
| Industry | Investment trust |
| Founded | 2001 |
| Founders | Andrew Cherng and Peggy Cherng |
| Headquarters | Rosemead, California , United States |
| Website | www |
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 Trail Blazers.[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 Trail Blazers from the estate of Paul G. Allen.[2][11][12][13]
References
- ^ "Profiles: Andrew and Peggy Cherng". www.international.ucla.edu. UCLA. Retrieved 13 September 2025.
- ^ a b Auden Land, Joni. "Allen Estate announces official agreement to sell Trail Blazers". OPB. Retrieved 13 September 2025.
- ^ "Largest And Global Sovereign Wealth Fund Institute | SWFI". www.swfinstitute.org. Retrieved 13 September 2025.
- ^ "About CFT Capital Partners | Alternative Investments". Cft Capital. Retrieved 13 September 2025.
- ^ a b Anderson, Caroline (24 November 2016). "Chinese Food Pioneers Fill Plate". Los Angeles Business Journal. Retrieved 13 September 2025.
- ^ "Blackstone Announces Sale of The Cosmopolitan of Las Vegas | Stonepeak". stonepeak.com. 27 September 2021. Retrieved 13 September 2025.
- ^ "Las Vegas hotel Cosmopolitan being sold in $5.65B deal". www.nevadaappeal.com. The Associated Press. Retrieved 13 September 2025.
- ^ Shriber, Todd (25 August 2023). "Realty Income Buys Bellagio Stake From BREIT For $950 Million". Casino.org. Retrieved 13 September 2025.
- ^ "Panda Express Family Adds to OC Holdings". Orange County Business Journal. 30 August 2021. Retrieved 13 September 2025.
- ^ Firtea, Diana (18 December 2023). "Las Vegas Shopping Center Tops Out". Commercial Property Executive. Retrieved 13 September 2025.
- ^ 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.
- ^ Novy-Williams, Eben (12 September 2025). "Dundon Group, NBA's Trail Blazers Sign Formal Purchase Agreement". Sportico.com. Retrieved 13 September 2025.
- ^ Freeman, Joe (13 September 2025). "Panda Express founders join Tom Dundon in Portland Trail Blazers purchase". The Oregonian/OregonLive. Retrieved 13 September 2025.