Listed private equity investor Candover Investments has been left leasing 20,000 sq. ft of prime London office space that it no longer needs following the spinning off of its fund manager Candover Partners.

The fifth floor of 20 Old Bailey in the City of London is virtually empty after the finalisation last night of the agreement for Arle Capital Partners -- the new firm created from Candover Partners -- to be spun off from Candover Investments, a property consultant said.