The $4.5 billion Australian Catholic Superannuation Retirement Fund has ended its 15-year relationship with Mercer Investment Consulting by appointing Russell, says an internal Russell email.

Russell won the contract to provide investment advice to the fund in an open tender against Mercer, JANA Investment Advisers, Frontier Investment Consulting and Towers Watson.

The fund is Russell’s first large industry fund client.

Russell believes the industry fund market is “critical” for the growth of its institutional consulting business, the e-mail says.

The company has sought to rebuild its consulting business in recent years under Greg Liddell, managing director of consulting and advisory services.

Russell declined to comment on the contract win.

Greg Cantor, Chief executive of the catholic fund, did not return calls seeking comment.

The e-mail says the fund will not release a media statement about its change of consultant.