Nomura Asset Management will bring the stocks of up to 300 companies into the fold. Selections will be based on total personnel expenses, capital outlays and research and development spending over the past three years.
The Hellman & Friedman Capital Partners VII fund invests in media, financial services, professional services, and software and information services in developed markets.
Ausbil head of institutional business Ross Youngman said the mandate win was a strong endorsement of Ausbil's commitment, team, process, performance and market positioning.
The GPIF began accepting applications for the mandates on April 18, 2016, and will review submissions beginning June 1, 2016.