Apollo Global Management will establish a new strategic hub in Austin, Texas, focused on innovation, emerging technology, and business growth, bringing new investment and job creation to Texas.
Apollo expands with new Austin hub
Governor Greg Abbott (R) announced that Apollo Global Management will establish a new strategic hub in Austin, designed to drive innovation, develop emerging technologies, and support the next phase of the firm's growth.
The new hub will incubate new businesses across Apollo's asset management and retirement solutions platform and is expected to represent a significant capital investment while creating new jobs.
Abbott said Apollo's decision reinforces Texas' position as a leader in the financial services industry.
Gov. Greg Abbott: "Texas is the new financial capital of America."
He added that Texas already has the nation's largest financial services workforce and said Apollo's expansion will strengthen the state's global leadership in the sector.
Why Apollo chose Texas
Apollo, one of the world's largest alternative asset management and retirement solutions providers, said the new Austin hub builds on nearly two decades of partnership in Texas.
The company cited several factors behind its decision, including:
- Texas' business-friendly environment.
- A growing technology ecosystem.
- Access to a talented workforce.
- The concentration of major corporate headquaters.
- Long-term growth opportunities.
Apollo CEO Marc Rowan said the Austin hub will help the company develop the next generation of its business.
CEO of Apollo Marc Rowan: "Austin let 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."
Austin Welcomes Expansion
Austin Mayor Kirk Watson said Apollo's investment highlights the city's growing reputation as a destination for technology and business.
Mayor Kirk Watson: "I’m proud that Austin continues to be the place where companies choose to grow, innovate, and make investments in."
The Bottom Line
Apollo Global Management is expanding its Texas footprint by launching a new strategic hub in Austing focused on innovation and emerging technology, a move state leaders say will create jobs and further cement Texas' position as a national leader in financial services.
