University of Bristol hired Rathbone Investment Management to run its £60 million ($81.5 million) endowment fund.
The hire followed a review of the university's endowment investment policy, said a notice on European procurement website Tenders Electronic Daily. "The portfolio will be invested in line with best practice in terms of corporate governance and the university's endowment investment policy," the notice said.
The university in Bristol, England, launched a search in March. Details on existing managers could not be learned by press time.
The initial contract will last five years, with a possible extension of up to five years.
A spokesman for the university was not available to comment.