Mrs. Frolova received a Masters in Economics and Finance from the Lomonossov University in Moscow and Gerhard Mecator University in Duisburg-Esssen. She is a CFA charterholder and an INSEAD certified board director.

Mrs. Frolova joined PGGM in 2014 and currently oversees asset management of private infrastructure in-vestments, as well as being responsible for governance and value creation program for the portfolio compa-nies, in which PGGM is an influential investor.

She serves as a non-executive board director on the boards of PGGM portfolio companies.

Prior to joining PGGM, Mrs. Frolova was responsible for regional portfolio management activities at Royal Bank of Scotland and acted as a senior project finance advisor at ABN AMRO focusing on energy and infra-structure projects.