Blue Sky hires successor to Satumalaij

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NETHERLANDS - Blue Sky Group, the manager of Dutch airline KLM's pension fund assets, has appointed Hidde Frequin as its new real estate fund manager real estate.

Succeeding Raymond Satumalaij, who resigned in March to join fund manager Bouwfonds to structure and manage institutional funds, Frequin will join the group next week.

He will be responsible for monitoring and selecting external real estate manager, Blue Sky said in a statement today.

Until now, Frequin has worked as an independent hotel real estate consultant, the company added.

The Amstelveen-based group currently holds €12bn of pension fund assets under management in a pooled multi-manager structure.

The firm was established in 1999, when KLM's pension department became a separate limited liability company, in a bid to improve the performance of the company's three schemes.

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