Apollo reportedly plans second headquarters in Austin

Apollo Global Management has reportedly selected Austin for a planned second headquarters as the city continues to attract major employers and investment firms. The New York-based private capital firm with more than $1 trillion in assets under management chose Austin over Miami, Palm Beach and Nashville, according to sources cited by the Financial Times. Private equity is the core of Apollo's business, and it had $67 billion in assets under management as of March 31. Its major holdings include Phoenix Education Partners Inc., VanEck ETF Trust-VanEck Semiconductor ETF, Hilton Grand Vacations Inc., ADT Inc. and Grupo Aeroméxico. "New York does not have a monopoly on talent, and we expect most of our future growth will take place in our second HQ," Apollo told the Financial Times earlier this year.