Cherng Family Trust

What Cherng Family Trust does

Cherng Family Trust is a private multi-generational family office founded in 2001 by Andrew and Peggy Cherng, the founders of Panda Express and Panda Restaurant Group, to administer and grow the family's wealth. The trust operates an integrated platform combining direct private equity and fund investments across all industries with active management of a diversified real estate portfolio spanning retail, office, industrial, hospitality, multi-family, and developable land assets in the United States and abroad. Its core service line, branded CFT Real Estate, delivers end-to-end commercial real estate capabilities including acquisition, asset and property management, ground-up development, construction, and leasing, supplemented by in-house finance and accounting teams (financial reporting, tax strategy, investment planning) and a full-service legal department covering real estate documentation, joint ventures, business acquisitions, and trust/estate matters.

The business model is not commercially oriented: the trust serves a single client — the Cherng family and its multi-generational members — and does not market products, charge fees, or generate revenue from external customers. Value creation is derived from capital deployment across private equity, fund investments, and real estate, combined with long-term, flexible, family-controlled stewardship aimed at sustainable returns and community investment. The firm emphasizes internal capability depth, with experienced professionals overseeing administration, finances, investments, legal, and charitable efforts, and coordinates talent acquisition with the broader Panda organization via shared career infrastructure.

Name

Cherng Family Trust

Legal name

Cherng Family Trust

Website

https://cherngfamilytrust.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

51–100 employees

Short description

Cherng Family Trust is the private multi-generational family office of Andrew and Peggy Cherng (Panda Express founders), managing the family's wealth through direct private equity, fund investments, and an in-house commercial real estate platform across the US and abroad.

Ownership category

akta.pro rank

Product category

Family Office Services

NAICS

Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (52592), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Real Estate (6500)

akta.pro primary industry

Estate Planning, Trust Structuring & Governance (FSAAADAF)

akta.pro secondary industries

Personal & Family Trust Services (FSAAANAA), Real Estate Management for Family Offices (Acquisition, Development, Property Ops) (FSAAADAI), Family Office Investment Platforms & Direct Investing (PE/VC/Co-Invest) (FSAAADAH), Philanthropy, Foundations & Grantmaking Advisory (FSAAADAG)

Keywords

• Family office services
• Wealth management
• Private equity investments
• Commercial real estate
• Estate planning

Headquarters

HQ city

Pasadena

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Core offering

Cherng Family Trust is the multi-generational family office and investment firm of Andrew and Peggy Cherng, providing wealth administration, direct private equity and fund investments, and full-service commercial real estate operations (acquisition, development, construction, leasing, and asset/property management) for the Cherng family across the US and abroad. It also delivers in-house finance and accounting (transaction recording, financial reporting, tax and financial strategy, investment planning) and full-service legal support for real estate, joint ventures, corporate, trust and estate matters.

Product overview

Cherng Family Trust operates as a multi-service family office offering a unified platform of wealth management and investment services. The core offerings include CFT Real Estate (full-service commercial real estate investment including acquisition, development, and property management), Finance & Accounting services (financial reporting, tax strategies, and investment planning), and Legal services (corporate, real estate, and estate legal guidance). These services work together to provide comprehensive administration, investment management, and wealth preservation for the Cherng family across private equity, fund investments, and real estate portfolios.

Differentiator

Problem solved

Functional benefit

Brands

• CFT Real Estate: Provides full complement of commercial real estate investment services, including acquisition, asset and property management, ground-up new development, construction, and leasing services for the Cherng Family Trust.

Products and services

• CFT Real Estate
• Finance & Accounting Services
• Legal Services

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Emerging players

• Iconiq Capital: Iconiq Capital is a multi-family office serving ultra-wealthy families across generations—comparable to Cherng Family Trust's multi-generational wealth preservation mission, though it primarily serves external client families rather than one single family.
• Pathstone Family Office: Pathstone is a multi-family office providing investment, trust, and family office services to wealthy families—comparable to Cherng Family Trust's integrated investment, trust, and estate administration platform.
• Makena Capital Management: Makena Capital is a multi-family office providing long-duration investment services to endowed families and institutions—comparable to Cherng Family Trust's long-term, multi-asset investment mandate for a single principal family.

Broad incumbents

• Icahn Enterprises: Icahn Enterprises is an investment holding company with significant real estate, energy, and operating company holdings—comparable to Cherng Family Trust as a diversified investment holding vehicle driven by a single principal family.
• Blackstone Family Office Services: Blackstone runs a family office solutions and capital formation capability serving ultra-wealthy families—comparable to Cherng Family Trust as institutional-grade real estate and investment offerings delivered to or near family-office clients.

Direct peers

• Allen & Company: Allen & Company is a private investment bank and family office for the Allen family, focused on long-term private investments and boutique advisory—comparable to Cherng Family Trust as a closely held, multi-generational investment firm.
• The Stephens Group: The Stephens Group is the family investment firm of the Witt/Stephens families, with major PE and real estate holdings—comparable to Cherng Family Trust's dual focus on operating commercial real estate and broader private investments.
• Pritzker Group: Pritzker Group is the family office of the Pritzker family (Hyatt Hotels heirs), operating PE, venture, and real estate investing activities—directly comparable to Cherng Family Trust's multi-asset family office investing model.
• Cascade Investment: Cascade Investment is Bill Gates' family office managing a diversified, long-duration portfolio across public and private investments—closely parallel to Cherng Family Trust's long-term, multi-asset, capital-heavy approach.

Others

• Church Commissioners for England: Church Commissioners is a long-duration, multi-generational investment vehicle managing a diversified portfolio including real estate—comparable to Cherng Family Trust as a long-horizon fiduciary investor across multiple asset classes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cherng Family Trust