The Ontario Teachers’ Pension Plan is providing an equity injection to help finance the acquisition of an automotive financing and insurance company.

APCO Holdings, in which the pension fund holds a majority stake, is acquiring National Auto Care for an undisclosed sum. While a portion of the price tag was secured through third-party debt financing, APCO said the Ontario Teachers’ provided the majority of the funds.

The pension fund initially invested in APCO in 2016. The company markets its insurance products under the EasyCare and GWC brands, as well as other private label automobile manufacturer brands. Like APCO, NAC provides customers with a suite of auto insurance products. It also provides consulting services to insurance companies, recreational and power sports vehicle dealers, financial institutions, third-party administrators and credit unions.

Read: Caisse invests in aircraft leasing, Ontario Teachers’ in driverless vehicles

In a press release, Jeff Markusson, senior managing director of financial services at the Ontario Teachers,’ said APCO and NAC were both well positioned to benefit from the acquisition. “We believe the combination of the two complementary companies creates a true leader in the [finance and insurance] space. . . backed by a top leadership team.”

In other news, the Alberta Investment Management Corp., the Caisse de dépôt et placement du Québec, the Canada Pension Plan Investment Board, the Healthcare of Ontario Pension Plan, the Ontario Municipal Employees’ Retirement System and the Public Sector Pension Investment Board are increasing their exposure to the Bank of Montreal.

The investment organizations purchased a combined total of 8,431,700 common shares in the bank during a private placement offering for approximately $1 billion. In total, BMO raised $2.6 billion through the sale of new equities. Aside from the investment organizations, BNP Paribas secured its own $1 billion portfolio, while a further $600 million was raised from other investors.

Read: Ontario Teachers’ facing losses from crypto exchange collapse, Caisse financing Quebec EV manufacturer