The Ontario Teachers’ Pension Plan is acquiring a majority stake in a U.K.-based wealth and investment manager.

Seven Investment Management oversees more than £21 billion in assets for 2,300 financial advisory firms and 7,000 private accounts, according to a press release, which noted the organization is pursuing a new strategy of growth over the next decade based in organic net flows and mergers and acquisitions.

Read: Ontario Teachers’ returns 4% for 2022, driven by private equity, inflation-sensitive investments

“We look forward to helping [Seven Investment Management’s] first-class management team to fulfil their ambitious growth plans,” said Iñaki Echave, senior managing director at Ontario Teachers’, in the release.

In other news, the Ontario Municipal Employees’ Retirement System is backing a series D investment round for U.S.-based lithium-ion recycling firm Redwood Materials.

The company has raised more than US$1 billion through this latest funding round, according to a press release, which noted the new capital will be used to assemble a leading technical team and to maintain the execution of battery materials production.

Read: OMERS in equity funding for Swedish battery manufacturer