“ FROM MY TRAVELS , THERE ’ S NO PLACE LIKE NEWPORT BEACH , WHERE YOU HAVE THE INCREDIBLE ACTIVITIES IN THE HARBOR , YOU ’ RE CLOSE TO SEVERAL MOUNTAINS AND RESORTS NEARBY , YOU HAVE THE DESERT IN STRIKING DISTANCE , YOU HAVE THE ABILITY TO GO TO CATALINA [ ISLAND ] FOR A DAY IF YOU WANT . … THERE ’ S JUST COUNTLESS REASONS .”
My 24 HOURS IN NEWPORT
NED ALGEO , FORMER CHIEF FINANCIAL OFFICER FOR XPERIENCE RESTAURANT GROUP , SHARES A LITTLE ABOUT HIS NEW VENTURE AND WHAT HE LOVES MOST ABOUT NEWPORT BEACH .
BY ASHLEY RYAN
Ned Algeo has lived in Newport Beach most of his life , now settled in the Port Streets with his wife , Misha , and their daughters , Reagan and Mila . But this isn ’ t his first stint in town .
Algeo grew up on Balboa Island and graduated from Corona del Mar High School before venturing north to LA to earn a degree in economics from UCLA . He worked at Boeing for five years before going on to get his master ’ s in business administration from USC in 2011 and taking a corporate finance position with The Wonderful Co . But , in 2016 , he moved back to Newport — this time with Misha in tow — to start a family . “ It ’ s that familial aspect of Newport that drove us to want to put our roots here ,” he adds . “… I know how much love for the community the people that live here have .”
Algeo broke into the restaurant industry for the first time as interim chief financial officer and senior director of finance for Real Mex Restaurants — a full-circle moment as his first job was selling frozen bananas on Balboa Island . He left for about a year then returned as the company was restructuring , becoming part of the team that developed Xperience Restaurant Group , which owns and operates Orange County eateries like Sol Mexican Cocina , Las Brisas , El Torito and more . Algeo served as CFO for XRG for more than five years until he left this January ,
“ FROM MY TRAVELS , THERE ’ S NO PLACE LIKE NEWPORT BEACH , WHERE YOU HAVE THE INCREDIBLE ACTIVITIES IN THE HARBOR , YOU ’ RE CLOSE TO SEVERAL MOUNTAINS AND RESORTS NEARBY , YOU HAVE THE DESERT IN STRIKING DISTANCE , YOU HAVE THE ABILITY TO GO TO CATALINA [ ISLAND ] FOR A DAY IF YOU WANT . … THERE ’ S JUST COUNTLESS REASONS .”
awarded Outstanding CFO of a Private Company by the Orange County Business Journal in 2022 .
In February , Algeo founded his latest venture : a platform called Multipli Capital , which offers strategic advisory and management consulting for restaurants , and provides syndicated capital to like-minded businesses in the industry that are looking to grow or exit .
Since moving back to town , he and his family have fully embraced living in Newport . “ From my travels , there ’ s no place like Newport Beach ,” Algeo says , “ where you have the incredible activities in the harbor , you ’ re close to several mountains and resorts nearby , you have the desert in striking distance , you have the ability to go to Catalina [ Island ] for a day if you want . … There ’ s just countless reasons .”
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