Apollo Global Management (APO) is planning to open a second U.S. headquarters in South Florida and Texas, as well as its first headquarters in New York, as talent, capital, and opportunity is shifting beyond New York. The company, which manages roughly $938 billion in assets, expects much of its expansion, including hiring, could take place in this new hub. This move is part of a larger structural shift in Wall Street, with more than 370 investment firms moving their headquarters from 2020 to early 2023, managing roughly $2.7 trillion in assets. Other finance firms have also moved to lower-cost, business-friendly regions across the Sun Belt, with firms like Goldman Sachs and Charles Schwab expanding operations there due to lower taxes, strong talent pools, and favorable regulation. The decision comes as Apollo continues to expand globally and diversify its investments, with a $3.7 billion deal to acquire Japan-based NSG Group, marking its largest private equity investment in Japan so far. The firm also announced a $0.0 per share dividend payout for common and preferred stock investors on February 27.