# Cherng Family Trust

Cherng Family Trust is a Single Family Office based in Pasadena, United States.

## Overview

- **Organization type:** Single Family Office
- **Headquarters:** Pasadena, United States
- **Region:** North America
- **Address:** 3465 East Foothill Boulevard, Pasadena, CA, United States
- **Founded:** 2001
- **Assets under management:** 3,000 (Altss estimate)
- **Website:** cherngfamilytrust.com
- **LinkedIn:** https://www.linkedin.com/company/cherng-fo

## Regulatory record

- **Reports private funds:** No

## About

Andrew and Peggy Cherng established the Cherng Family Trust in 2001 after building Panda Restaurant Group into the largest Chinese restaurant chain in the United States. The trust manages the resulting fortune and separates investment activity from the operating company. Wealth origin traces directly to the founders rather than a broader family branch. The office deploys across private equity, real estate, and fund commitments. It participates in direct co-investments through CFT Capital Partners and maintains exposure to buyout, growth, and venture stages. Confirmed holdings include a joint-venture stake in the Cosmopolitan of Las Vegas real estate acquired in 2022 alongside Stonepeak and Blackstone Real Estate Income Trust, plus a minority position in the Portland Trail Blazers finalized in 2025. Geographic reach centers on North America with additional activity in Hawaii and Texas. The trust employs dedicated investment staff and reported hiring Warren Woo and Carey Do Kim in January 2025 to expand its platform. It oversees more than 1,500 properties through CFT Real Estate and maintains philanthropic vehicles including the Panda Cares Foundation, which has made gifts such as $100 million to City of Hope in 2023. A $781.2 million close of CFT Capital Partners Fund II occurred in September 2024. The office operates with an internal co-investment vehicle that allows it to anchor third-party funds while retaining direct deal capacity. This hybrid approach separates the family’s operating business from its investment activities and keeps governance within the Cherng family principals.

## Sectors

- Private Equity
- Real Estate
- Healthcare Services
- Sports

## People

- Andrew Cherng — Co-founder
- Peggy Cherng — Co-founder

## Questions

### Who runs investment decisions at Cherng Family Trust?

Andrew Cherng and Peggy Cherng set overall direction. Warren Woo and Carey Do Kim joined in January 2025 to execute private-market investments.

### How does Cherng Family Trust source proprietary deal flow?

The office uses its CFT Capital Partners platform for co-investments and maintains direct relationships with sponsors. It also evaluates opportunities tied to its real-estate holdings across multiple states.

### Does Cherng Family Trust participate in fund commitments or only direct deals?

Both. It commits to third-party funds and runs CFT Capital Partners Fund II, which closed at $781.2 million in September 2024, while also executing direct real-estate and private-equity transactions.

### What investment stages does Cherng Family Trust typically target?

The office targets buyout, growth, and venture opportunities. It has executed large real-estate acquisitions and minority stakes in operating businesses such as the Portland Trail Blazers.

### Does Cherng Family Trust maintain philanthropic structures, and how are they separated?

Yes. The Panda Cares Foundation and Panda CommUnity Fund handle giving. Notable grants include $100 million to City of Hope in 2023 and $17 million to St. Rose Dominican Hospital in 2025.

### What is Cherng Family Trust's known posture on co-investments alongside external GPs?

The office actively co-invests. It partnered with Stonepeak and Blackstone Real Estate Income Trust on the Cosmopolitan of Las Vegas real estate in 2022 and joined Tom Dundon on the Trail Blazers acquisition in 2025.

## Related profiles

- [Brainvest Wealth Management](https://altss.com/profile/brainvest-wealth-management)
- [Hinduja Bank](https://altss.com/profile/hinduja-bank)

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

Canonical page: https://altss.com/profile/cherng-family-trust-andrew-and-peggy-cherng-family-office

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