US investment giant Apollo has opened a new European headquarters in central London and said offices remain “important’ post-pandemic.
The private capital manager has launched a new European hub at 1 Soho Place, with 88,000 square feet that can accommodate over 400 employees. It is bringing together teams from two existing London offices totalling 56,000 square feet.
Rob Seminara, partner and head of Europe at Apollo told the Evening Standard: “We have more capital to deploy than ever with European-based teams managing nearly a quarter of Apollo’s $548 billion (£441 billion). We were clearly running out of space before.”
The four floors the company has include client space, a coffee bar, employee dining area and fitness centre. The building is located over the Tottenham Court Road Elizabeth line and Underground station.
It follows the firm’s other recent new or renovated workplaces in Singapore, New York, Mumbai and Hong Kong.
The move comes at a busy time for Apollo which has made a number of proposals for John Wood Group including a latest £1.7 billion deal. Today the engineering services business said it is granting Apollo access to due diligence on the basis of its previously-disclosed 240p a share offer.
The lease at 1 Soho Place was signed pre-Covid and now many companies are re-thinking HQ plans.
Seminara said Apollo is well used to remote work as teams often travel. But he added: “It’s hugely important to still have a London office and a central, easy-to-access location for people to meet, collaborate and innovate. I would argue it’s even more important post-pandemic as people now fully appreciate what value a great workspace and thriving office environment can provide.”
In a company announcement Seminara added: “Our new London office will provide our people with one of the region’s best, state-of-the-art workspaces. This further reinforces our commitment to offering the full Apollo platform – from credit, equity, and real assets to retirement services and wealth capabilities – across regions.”
