Apollo Leans Toward Austin for Second U.S. Headquarters
The potential move highlights Texas’ growing appeal to financial services companies and institutional investors.
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Good morning. Apollo Global Management is reportedly close to selecting Austin as the site of its second U.S. HQ. The move would reinforce Austin’s emergence as a financial hub alongside its established technology sector.
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Market Snapshot
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Financial Shift
Apollo Eyes Austin for Second U.S. Headquarters
Apollo Global Management is reportedly leaning toward Austin as the location for its second U.S. HQ, a move that would further elevate the city’s growing profile in finance.
Why it matters: Apollo has spent months evaluating locations in Texas and South Florida as it looks to expand its talent pool beyond New York. While a final decision has not been made, Austin has emerged as the leading contender.
Austin’s advantage: The city offers a combination of a strong talent base, a growing technology sector, and proximity to major institutional investors, including the University of Texas/Texas A&M Investment Management Co. and the Teacher Retirement System of Texas.
Corporate migration continues: Austin has attracted major expansions from companies such as Oracle, Meta, and Alphabet, reinforcing its reputation as a destination for businesses seeking growth and talent.
Texas strengthens its appeal: The state continues to attract financial firms with its low-tax environment, business-friendly regulations, and recent corporate law changes. Companies including Vanguard and Fidelity have expanded operations in Texas in recent years.
Competition within Texas: While Austin has emerged as a technology and investment hub, Dallas has also been successful in attracting financial firms, highlighted by Goldman Sachs’ $500 million office project and Wells Fargo’s new 850,000-square-foot campus.
A broader financial shift: Texas is increasingly positioning itself as a financial center, supported by the upcoming launch of the Texas Stock Exchange and efforts to attract more corporate and investment activity across the state.
➥ THE TAKEAWAY
What it means: If Apollo ultimately selects Austin, the decision would add another marquee name to the city’s corporate roster, strengthen demand for premium office space, and further validate Texas as an increasingly important destination for financial services firms.
Around Texas
➥ Shorenstein Properties acquired the fully leased Tennyson office campus in Plano, Texas, as part of its strategy to invest in high-growth office submarkets with strong rent upside.
➥ Austin led the nation in office-using job growth from 2019 to 2025, positioning the market for lower vacancies ahead despite office vacancy rates remaining above the national average.
➥ Hanover completed a 213,000 SF warehouse in South Houston while Welcome Group launched plans for a 250,000 SF industrial campus in Pearland, expanding the region’s logistics footprint.
➥ World Cup visitors are sharing their experiences across Downtown Dallas, offering a fresh perspective that is helping renew enthusiasm for the city despite recent high-profile departures.
Follow the Money
| MIXED-USEDALLAS NexPoint is moving forward with a $445M transformation of Dallas’ Cityplace Tower, converting much of the office property into apartments, a hotel and retail space. |
| DATA CENTERSRED OAK DataBank secured $1.45B in new financing to expand its Red Oak data center campus and support future growth as demand for digital infrastructure accelerates. |
| MULTIFAMILYHOUSTON 12Ten Capital made its first Houston investment with the acquisition of the 180-unit Harper’s Mill apartments, targeting value-add upgrades through its new workforce housing fund. |
| MIXED-USEHOUSTON The Houston Astros acquired a property across from Daikin Park for a future parking garage, advancing plans for a mixed-use entertainment district around the ballpark. |
📈 CHART OF THE WEEK
Source: Colliers
Houston’s manufacturing workforce reached a record 239,000 workers in 2026, reflecting years of steady growth driven by reshoring trends, major corporate investments, and expanding advanced manufacturing activity across the region.
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