The Caisse de dépôt et placement du Québec is increasing its stake in an energy company by 16.5 per cent.

Following the transaction, the investment manager will control 80.9 per cent of Trencap, a limited partnership that controls Noverco Inc. The remaining shares in Trencap are held by the Fonds de solidarité FTQ, a Quebec-based infrastructure fund.

Noverco owns 100 per cent of the Montreal-based natural gas distributor Energir, which has assets estimated to be worth more than $8 billion. Beyond natural gas, the company, formerly known as Gaz Métro, is also involved in the distribution of solar and wind generated electricity throughout Quebec and Vermont.

Read: Caisse buying natural gas company, Ontario Teachers’ closing Enwave deal

In a press release, Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, said the investment is part of a strategy to encourage the growth of Quebec-based companies. “With the Fonds de solidarité FTQ, we are delighted to continue as a long-term shareholder in this innovative company as it works to diversify and decarbonize its activities, contributing to a greener North American economy.”

In other investment news, the Canada Pension Plan Investment Board and Oxford Properties, the real estate arm of the Ontario Municipal Employees Retirement System, are selling a landmark Toronto skyscraper to a Spanish billionaire.

The two investment managers will sell the Royal Bank Plaza, located across from Toronto’s Union Station, to Armancio Ortega for $1.2 billion.

Famous for its gilded facade, the building’s 14,000 windows are tinted with real gold. At today’s prices, the gold is estimated to be worth $5.2 million.

Read: CPPIB invests in clean energy provider, OMERS subsidiary enters industrial property joint venture