Apollo Global Management has reportedly selected Austin, Texas, to host its second U.S. headquarters, adding another major financial name to the growing list of firms expanding outside traditional coastal business centers.

According to a Friday report from the Financial Times, Apollo narrowed its search to Texas and Florida before ultimately choosing Austin.

The decision was reportedly influenced in part by concerns surrounding access to private schools in Florida, helping tip the balance in favor of the Texas capital.

Apollo, led by Marc Rowan, manages assets for pension funds, insurers, and wealthy investors and oversees more than $800 billion in assets. The firm currently operates from its Midtown Manhattan headquarters at 9 West 57th Street overlooking Central Park.

The move arrives as broader conversations continue around where major companies choose to place leadership, talent, and long-term investment. Supporters of business migration trends argue companies increasingly prioritize factors like taxes, education access, workforce growth, and operating environments when making expansion decisions.

Austin has steadily built a reputation as a technology and business hub, attracting investment across finance, innovation, and corporate development sectors. Apparently, live music and barbecue weren’t enough—the balance sheets wanted an invitation too.

For Apollo, the decision signals another major vote of confidence in Texas as competition among states for investment and corporate expansion continues to intensify.