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Apollo selects Austin for its second headquarters
The alternative asset manager said it will sign a lease for the new hub in the next few months and build it around innovation for both Apollo and Athene.
Apollo Global Management has made official plans to open a second headquarters in Austin, Texas, a move first hinted at in June and formalized Monday by the alternative asset management firm.
The company said the Austin hub will focus on innovation and emerging technology, including as a testing ground for new product offerings across its asset management business and retirement solutions unit, Athene. CEO Marc Rowan said Austin provides the talent, technology, and business environment needed to build the next generation of Apollo and Athene.
Apollo plans to run the new site under the leadership of Eric Needleman and Mike Downing. Needleman is a partner at Apollo who currently leads capital markets, structuring, and global syndication, while Downing is co-president and chief operating officer of Athene USA and Athene Holdings.
Apollo is already operating out of a short-term downtown Austin office, but it has not finalized a long-term location. A spokesperson said the firm plans to sign a lease in the next few months, and Apollo previously said in March that it expected most of its future growth would be in the Sun Belt. The move comes as the firm has more than doubled headcount since 2020, supported in part by its $11B acquisition of Athene in 2021.