Fox-Pitt, Kelton, the UK specialist investment bank for the financial services sector, won the mandate to advise the Royal National Pension Fund for Nurses on its £48m (€79m) acquisition by Liverpool Victoria Friendly Society.

The RNPFN, which provides life, pensions and savings products to the UK nursing and healthcare community, appointed Fox-Pitt, Kelton as sole financial adviser last year following a beauty parade organised by Jeremy Soames, chairman of the council of RNPFN. The bank's initial role was to assess the strategic options open to the RNPFN. Work began on negotiating its sale early this year.