Grosvenor Fund names first U.S. CIO

Charles “Chip” Walters was promoted to chief investment officer for U.S. operations at real estate investment firm Grosvenor Fund Management from managing director and head of fund portfolio management, confirmed a spokeswoman, who declined to be identified.

The position is new. Mr. Walters will be in the U.S. headquarters in Philadelphia. GFM is based in London.

Mr. Walters' former position in Philadelphia “will be filled soon,” the spokeswoman said. Mr. Walters joined GFM in April. Before that he was principal, head of the Northeast acquisitions for Prudential Real Estate Investors.