Patron Capital, a UK buy-out firm, has sold half its stake in Simon Storage, a liquid storage business, to Fortress Investment Group. It gives Patron a partial exit from the company it bought ten months ago for £88m (€128m).

Fortress, the US hedge funds to private equity firm, has paid Patron £9m cash for the 50% stake in Simon Storage. It has also agreed an amount of deferred consideration based on the company's value when Patron finally exits. Patron pursued Simon Storage for three years before buying it.