University of Edinburgh hired Hymans Robertson to provide investment consulting, actuarial and administration services for its Staff Benefits Scheme.
The firm will be responsible for selecting, monitoring, reviewing and reporting on money manager performance, as well as providing other services to the pension fund, said a notice published on European procurement website Tenders Electronic Daily.
The pension fund has £450 million ($587 million) in assets.
The university launched a search in November. Hymans Robertson was the previous consultant and administrator, while Mercer provided actuarial services, according to the pension fund's latest annual report for the year ended March 31. Whether Mercer rebid could not be learned.
Spokesmen could not immediately be reached for comment.