# The Cheesecake Factory

The Cheesecake Factory is an Asset Manager based in Calabasas, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Calabasas, United States
- **Region:** North America
- **Address:** Calabasas, CA, United States
- **Founded:** 1978
- **Assets under management:** Undisclosed
- **Website:** thecheesecakefactory.com

## Regulatory record

- **Reports private funds:** No

## About

David Overton founded The Cheesecake Factory in 1978 in Beverly Hills, California. The company grew from a single restaurant driven by Overton's mother's cheesecake recipes into one of the most globally recognized casual-dining chains. The Overton family remains deeply involved in governance; David Overton continues to serve as Chairman and CEO, maintaining operational control of the public company (founded 1978, Calabasas, CA). The wealth and corporate strategy are intrinsically tied to restaurant operations and hospitality real estate, not a traditional family office structure. The firm deploys capital primarily into developing and remodeling its extensive portfolio of company-owned locations. The restaurant business generates revenue across three core segments: in-restaurant dining, off-premise consumption, and third-party delivery partnerships. An adjacent asset is the licensing of The Cheesecake Factory brand to third-party foodservice operators internationally and a consumer-packaged goods line selling branded cheesecakes in supermarkets. The company does not operate as a fund manager or institutional investor; its capital discipline manifests in site selection, leasehold improvements, and operational scale across more than 330 locations globally. In May 2024, The Cheesecake Factory reported Q1 2024 revenue of $891.2 million, a 3.0% increase year-over-year, with comparable restaurant sales up 1.6% (per the firm's Q1 2024 earnings release, May 2024). CEO David Overton highlighted ongoing menu innovation and margin improvement initiatives on the earnings call. The firm manages a succession pipeline internally, with President David Gordon and CFO Matthew Clark representing the senior leadership layer directly under the founder. The company's real asset base — predominately leased but with significant capital tied up in fit-outs — represents an operating-heavy model with high fixed-cost exposure. Unlike a traditional family office, The Cheesecake Factory's structure is a publicly traded operating company where the Overton family's influence flows through equity ownership and board control rather than a separate private investment vehicle. There is no disclosed family office arm or separate entity managing liquid securities or private investments for the Overton family. The governance model is rooted in public company compliance, with the founder-chairman holding dual CEO and Chairman roles, a structure that centralizes strategic and operational authority under a single family lineage.

## Sectors

- Restaurants & Hospitality
- Consumer Discretionary
- Real Estate

## People

- David Overton — Chairman and Chief Executive Officer
- David Gordon — President
- Matthew Clark — Executive Vice President and Chief Financial Officer

## Questions

### What is the Overton family's role in the company today?

David Overton remains Chairman and CEO, roles he has held since the company's early years. He is the son of Evelyn Overton, whose cheesecake recipe launched the business. No other Overton family members hold named executive positions on the official leadership roster, though the family retains significant equity and board influence through David Overton's dual role.

### What are the firm's core revenue streams?

Revenue is generated through three primary channels: in-restaurant dining sales, off-premise orders (takeout and delivery), and licensing agreements with international operators. The firm also sells branded cheesecakes and bakery items through grocery retail channels via a consumer-packaged goods licensing deal. There is no investment-income reported as a material revenue line.

### Does The Cheesecake Factory own its real estate or lease?

The company predominately leases its restaurant locations. The capital deployed into real estate is primarily in the form of leasehold improvements and fixture investments. This lease-heavy model creates high operating leverage but also significant fixed-cost exposure tied to lease obligations rather than owned-property appreciation.

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Last updated: 2026-06-03T20:00:00.000Z

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