Candover Investments, the former parent of buyout group Candover Partners, faces a waiting game before it can return cash to investors, despite a successful restructuring which its chief executive said had left it in a "robust" position.

The UK-listed private equity group spun off its subsidiary buyout arm, Candover Partners, late last year and sold a "strip" of fund interests to secondaries specialist Pantheon Ventures for £60m. The spin-out was renamed Arle Capital Partners and continues to manage Candover's portfolio.