Apollo Global Management selects Austin for second U.S. headquarters

Apollo Global Management has selected Austin, Texas, as the location for its second U.S. headquarters. The firm narrowed its options to Texas and Florida before choosing Austin, according to the Financial Times. The report cited concerns about the availability of private schools in Florida as a factor in the decision.

Background on the move Apollo manages more than $800 billion in assets for pension funds, insurers, and wealthy investors. Its primary office is located at 9 W. 57th St. in New York. The company stated the expansion is aimed at recruiting workers who prefer not to live in New York or pay New York prices.

Tax and revenue implications Apollo paid $1.276 billion in income taxes in 2025, an increase from $1.062 billion the prior year. A portion of that revenue has gone to New York City. The Partnership for New York City said the decision reflects a broader pattern of firms expanding outside the city.

Its president and CEO called for a stronger pro-business agenda to retain companies. Texas has drawn other financial firms with its tax structure and business courts. Vanguard and Fidelity have relocated operations there, and Goldman Sachs is constructing a $500 million office tower in Dallas.