PORTLAND Ore. (KPTV) - On Friday, a North Carolina investment group officially reached an agreement to buy the Portland Trail Blazers from Paul G. Allen. That group includes the co-founders of Panda Express.

What is the Cherng Family Trust?

The Cherng Family Trust, owned by Andrew and Peggy Cherng, is part of the group of investors buying the Portland Trail Blazers. The Cherng’s are co-founders of Panda Express and its parent company Panda Restaurant Group.

According to its website, the Cherng Family Trust was founded in 2001 as an investment firm for the Cherng family. The firm reportedly has $3.1 billion in assets and is headquartered in Rosemead, California.

Who is behind the trust?

Andrew Cherng, 77, is the co-CEO of Panda Express and his net worth is estimated to be about $4 bi

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