Slack (software)

Creating the perfect IPO

Slack goes public at the New York Stock Exchange
Photo: Johannes Eisele/AFP/Getty Images

When Slack went public last week via a direct listing, it got the benefits of algorithmic market pricing, speed and lower fees. But it didn't raise any capital for what remains a money-burning enterprise, as it would have via a traditional IPO, nor did it get to pick its new investors.

The big picture: The question, therefore, is if IPO and direct listing structures could be combined so as to receive the best of both floats. The answer is yes. Probably.

Investors demand more access to alternative investments

UBS front
Photo: Fabrice Coffrini/AFP/Getty Images

As deals from venture capital, private equity and real estate firms produce more headlines about billion-dollar deals and millionaire backers, investors are clamoring for ways to sink their teeth into so-called alternative investments. Big banks and asset managers are finding ways to help them do it.

Driving the news: Indexing giant Vanguard Group has reportedly started discussions with private-equity firms about a push further into alternative investments.