Apollo Global Management Picks Austin as Second Headquarters While Keeping New York Primary
The asset manager evaluated Austin, Miami, Palm Beach, and Nashville before CEO Marc Rowan chose Austin. The firm manages about $1 trillion in assets and employs more than 4,000 people.
news.google.comApollo Global Management has chosen Austin, Texas, as its second headquarters, according to sources familiar with the decision. The firm evaluated Austin, Miami, Palm Beach, and Nashville before CEO Marc Rowan selected Austin, the Financial Times reported. The new office is expected to host most future hiring as Apollo expands beyond its longtime New York base.
The decision has been communicated internally but is not yet final. Apollo manages about $1 trillion in assets and now employs more than 4,000 people, more than double its 2020 headcount. The company has opened major offices in Connecticut and Florida since the pandemic.
New York remains Apollo's primary headquarters. The company has stated that most future growth is expected to occur in its second headquarters. Austin's appeal includes its strong talent pipeline, growing tech ecosystem, quality of life, and business-friendly environment.
Austin also benefited from concerns among employees about limited private-school options in Miami. Texas has increasingly attracted major financial and corporate employers, including JPMorgan, Goldman Sachs, SpaceX, and ExxonMobil. ZeroHedge reported that Apollo's decision reflects a broader trend of financial firms relocating growth outside New York amid rising taxes, regulatory costs, and political uncertainty.
