Updated with correction.
University of Nebraska Foundation, Lincoln, hired Mercer's Pavilion unit as investment consultant, said Dorothy Endacott, foundation spokeswoman.
The foundation issued an RFP in March. Ms. Endacott said current consultant Cambridge Associates did not rebid for the services.
Ms. Endacott said further information regarding other bidders was not being disclosed. Pavilion will take on the services when Cambridge's contract expires at the end of the year.
The foundation oversees a total of $2.6 billion in assets, including a total of $1.7 billion in endowment assets.