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Apollo Global Management, Inc. (Apollo) (NYSE: APO) today announced Austin, Texas, as the location of a new hub built around innovation, emerging technology and the next phase of the firm's growth. The office will be led by Eric Needleman and Mike Downing.
"At Apollo and Athene, we help meet the capital needs of companies and economies, while enabling people to retire with confidence. That mission has driven our innovation for more than three decades, and this new presence is a continuation of that DNA. Change is the only constant, and we'd rather lead it than react to it," said Apollo CEO Marc Rowan. "Austin lets us build the next generation of Apollo and Athene, including challenger models for parts of our own business, with the talent, technology and business environment already in place. That's why we chose Austin and Texas."
The new strategic growth hub will incubate emerging and new businesses across our asset management and retirement solutions platform, focused on the flywheel of product, distribution, infrastructure, and market-making. It will also be where the firm evolves its approach to technology and operations, with proximity to companies defining the industry's next phase of growth.
Texas Governor Greg Abbott said, "Texas is the new financial capital of America. Apollo made the right decision when it selected Texas for its new strategic growth hub. Texas already houses the largest financial services workforce in the nation, and this significant expansion in Austin will advance Texas' global leadership in the financial services sector. For innovative industry leaders who seek stability, speed, and scalability, no better place exists to invest and grow than Texas."
City of Austin Mayor Kirk Watson said, "Austin is a great investment for business thanks to our ample supply of smart and creative young people. Apollo is choosing Austin because of our talent and our beautiful natural environment, great cultural offerings, and our position as a leader in the innovation economy. It's exciting that young Austinites graduating from our local universities will have yet another place to start their careers, right here at home, without needing to move to the East Coast or elsewhere. I'm proud that Austin continues to be the place where companies choose to grow, innovate, and make investments in."
Texas leads the nation in Fortune 500 headquarters, a base that includes a growing concentration of hard-tech, chip manufacturing and defense technology firms alongside the state's long-standing leadership in energy and infrastructure — an ecosystem Apollo believes will support the firm's next phase and aligns with our thesis for the ongoing global industrial renaissance. Apollo's new presence builds on nearly twenty years of partnerships in Texas, including strategic organizations that connect companies to the established innovation ecosystem. Texas is already among the firm's top five capital bases, and the firm is well-positioned to deepen its relationships with innovative companies seeking long term capital partners to fuel the forefront of innovation in technology and financial services. Importantly, Austin offers Apollo access to a talent pool distinct from its other locations. Apollo's New York State presence will remain the firm's global headquarters.
About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2026, Apollo had approximately $1.03 trillion of assets under management. To learn more, please visit www.apollo.com.
Apollo Forward-Looking Statements
This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo's expectations regarding the performance of its business, its liquidity and capital resources and other non-historical statements. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words "will", "believe," "anticipate," "estimate," "expect," "intend" and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to inflation, interest rate fluctuations and market conditions generally, international trade barriers, domestic or international political developments and other geopolitical events, including geopolitical tensions and hostilities, the impact of energy market dislocation, our ability to manage our growth, our ability to operate in highly competitive environments, the performance of the funds we manage, our ability to raise new funds, the variability of our revenues, earnings and cash flow, the accuracy of management's assumptions and estimates, our dependence on certain key personnel, our use of leverage to finance our businesses and investments by the funds we manage, Athene's ability to maintain or improve financial strength ratings, the impact of Athene's reinsurers failing to meet their assumed obligations, Athene's ability to manage its business in a highly regulated industry, changes in our regulatory environment and tax status, and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled "Risk Factors" in our annual report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 25, 2026, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.
Contact
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com
