Company Overview of BlackRock Core Alternatives FB TEI Portfolio LLC

Richard E. Cavanagh

Chairman, Member of Executive Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee, BlackRock Core Alternatives FB TEI Portfolio LLC

Age	Total Calculated Compensation	This person is connected to 77 Board Members in 77 different organizations across 78 different industries. See Board Relationships
69	--

Background

Mr. Richard E. Cavanagh, also known as Dick, has been a Senior Advisor at The Fremont Group since 2008. Mr. Cavanagh is a Special Advisor at Echoing Green. He served as the Chief Executive Officer and President at The Conference Board, Inc. from November 1995 to 2007. He was a Partner and served as the Principal of McKinsey & Company Inc. from 1980 to 1988. Mr. Cavanagh spent 15 years at McKinsey & Company, Inc. He led McKinsey’s efforts to reorganize the nation’s bankrupt railroads into Conrail – at the time the largest industrial reorganization in history. He served as an Executive Director at Federal Cash Management, White House Office of Management and Budget, U.S. from 1977 to 1979. He led a government-wide effort to improve cash management that saved $12 billion. He served as an Executive Dean of the John F. Kennedy School of Government at Harvard University from 1988 to 1995. He served as Acting Director of Harvard Center for Business and Government from 1991 to 1993. He has been the Chairman of various funds of BlackRock fund complex since 2007. Mr. Cavanagh serves as the Chairman of the Board of BlackRock Senior Floating Rate Fund II, Inc. and BlackRock MuniHoldings Quality Fund, Inc. He served as the Chairman of Educational Testing Service from 2005 to 2009. He has been a Director of The Fremont Group since 1996. He has been a Non-Interested Trustee at various funds in BlackRock fund complex since 1994. He has been a Director at BlackRock Senior Floating Rate Fund II Inc. and BlackRock Corporate High Yield Fund III, Inc. since 2007. He serves as Lead Director of Blackrock Florida Insured Municipal 2008 Term Trust. Mr. Cavanagh has been employed of Blackrock Florida Insured Municipal 2008 Term Trust Inc. since inception. He has been a Director of The Guardian Life Insurance Company of America since 1998. He serves as Trustee of Drucker Foundation. He served as a Director of The Conference Board of Canada. He served as an Independent Director of Arch Chemicals Inc., from 1999 to October 20, 2011. He served as a Director at AeroUSA and AeroUSA 3 until July 1, 2004; Airplanes Ltd. until July 1, 2004; LCI International, Inc., since May 1997 and Olin Corporation. He served as a Trustee of Partners Balanced Trust. He served as a Controlling Trustee of Airplanes Trust of Airplanes Ltd. until July 1, 2004. He served as Lead Trustee of various Blackrock funds in the fund complex. He created the “blue ribbon” Commission on Public Trust and Private Enterprise in 2002, which recommended corporate governance enhancements. He served as a Trustee of The Conference Board, Inc. He served as Trustee at BlackRock Insured Municipal Term Trust, Inc. since 2007. He served as a Trustee of Airplanes Group. He served as a Trustee of Aircraft Finance Trust (AFT) from 1999 to 2009. Mr. Cavanagh served as a Trustee of Airplanes Group since 1995. Until July 01, 2004, he was a Trustee Emeritus at Wesleyan University. He was a Trustee of Educational Testing Service (ETS) from 1997 to 2009. He also directed the President's Reorganization Project for domestic programs. He was an Adjunct Professor of Harvard University since 2007. He is a Co-Author of "THE WINNING PERFORMANCE" (best selling management book published in 13 national editions). Mr. Cavanagh holds a BA degree from Wesleyan University and an MBA degree from the Harvard Business School.

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Corporate Headquarters

100 Bellevue Parkway
Wilmington, Delaware 19809

United States

Phone: 302-797-2000
Fax: 302-797-2473

Board Members Memberships

Director, Member of Human Resources & Governance Committee and Member of Product & Distribution Committee

The Guardian Life Insurance Company of America

Lead Trustee

Blackrock Municipal Advantage Income Trust

Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Multi-Sector Income Trust

1994-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock MuniAssets Fund, Inc.

1994-Present

BlackRock Core Bond Trust

1994-Present

BlackRock MuniHoldings Fund, Inc.

1994-Present

Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Debt Strategies Fund, Inc.

1994-Present

BlackRock MuniHoldings New Jersey Quality Fund, Inc.

1994-Present

BlackRock Municipal Income Investment Trust

1994-Present

BlackRock Municipal Income Trust

1994-Present

BlackRock California Municipal Income Trust

1994-Present

Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Compliance Committee, Member of Governance & Nominating Committee and Member of Performance Oversight Committee

BlackRock New Jersey Municipal Income Trust

1994-Present

BlackRock New York Municipal 2018 Term Trust

1994-Present

Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Municipal 2018 Term Trust

1994-Present

BlackRock Municipal Bond Investment Trust

1994-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Performance Oversight Committee, Member of Governance & Nominating Committee and Member of Compliance Committee

BlackRock New York Municipal Income Trust II

1994-Present

BlackRock MuniHoldings Quality Fund II, Inc.

1994-Present

BlackRock Muni Intermediate Duration Fund, Inc.

1994-Present

BlackRock MuniYield California Quality Fund, Inc.

1994-Present

BlackRock MuniVest Fund, Inc.

1994-Present

BlackRock Energy and Resources Trust

1994-Present

BlackRock Health Sciences Trust

1994-Present

BlackRock Global Opportunities Equity Trust

1994-Present

Chairman, Member of Executive Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Enhanced Equity Yield & Premium Fund, Inc.

1994-Present

Chairman, Chairman of Executive Committee, Chairman of Performance Review Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee

BlackRock Enhanced Equity Dividend Trust

1994-Present

Chairman of the Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Utility and Infrastructure Trust

1994-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee

BlackRock Municipal Target Term Trust

2007-Present

BlackRock Income Trust, Inc.

2007-Present

BlackRock Investment Quality Municipal Trust Inc.

2007-Present

BlackRock MuniHoldings New York Quality Fund, Inc.

2007-Present

BlackRock MuniHoldings California Quality Fund, Inc.

2007-Present

BlackRock MuniHoldings Fund II, Inc.

2007-Present

BlackRock MuniHoldings Investment Quality Fund

2007-Present

BlackRock MuniHoldings Quality Fund, Inc.

2007-Present

BlackRock Strategic Municipal Trust

2007-Present

BlackRock Municipal Bond Trust

2007-Present

BlackRock New York Municipal Bond Trust

2007-Present

BlackRock Maryland Municipal Bond Trust

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee

BlackRock Virginia Municipal Bond Trust

2007-Present

BlackRock New Jersey Municipal Bond Trust

2007-Present

Chair of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Compliance Committee, Member of Governance & Nominating Committee and Member of Performance Oversight Committee

BlackRock Municipal Income Trust II

2007-Present

BlackRock New York Municipal Income Quality Trust

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Municipal Income Quality Trust

2007-Present

BlackRock New York Municipal Income Trust

2007-Present

BlackRock California Municipal 2018 Term Trust

2007-Present

BlackRock Municipal Income Investment Quality Trust

2007-Present

BlackRock Corporate High Yield Fund, Inc.

2007-Present

Chairman of the Board, Chairman of AMPS Committee, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Muni New York Intermediate Duration Fund, Inc.

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock MuniYield New Jersey Fund, Inc.

2007-Present

BlackRock MuniYield Michigan Quality Fund, Inc.

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock MuniYield Quality Fund, Inc.

2007-Present

BlackRock MuniVest Fund II, Inc.

2007-Present

BlackRock MuniYield Investment Quality Fund

2007-Present

Blackrock MuniYield California Fund, Inc.

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Compliance Committee, Member of Governance & Nominating Committee and Member of Performance Oversight Committee

BlackRock Massachusetts Tax-Exempt Trust

2007-Present

BlackRock MuniEnhanced Fund, Inc.

2007-Present

Chairman of The Board, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee

BlackRock MuniYield Arizona Fund, Inc.

2007-Present

BlackRock MuniYield New York Quality Fund, Inc.

2007-Present

BlackRock MuniYield Fund, Inc.

2007-Present

BlackRock MuniYield Pennsylvania Quality Fund

2007-Present

BlackRock MuniYield Investment Fund

2007-Present

BlackRock MuniYield Quality Fund II, Inc.

2007-Present

BlackRock MuniYield Quality Fund III, Inc.

2007-Present

BlackRock Limited Duration Income Trust

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Floating Rate Income Strategies Fund, Inc.

2007-Present

Chair of the Boards, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Municipal 2020 Term Trust

2007-Present

BlackRock Florida Municipal 2020 Term Trust

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance and Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Enhanced Capital and Income Fund, Inc.

2007-Present

Chairman, Chairman of Executive Committee, Chairman of Amps Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Floating Rate Income Trust

2007-Present

BlackRock Enhanced Government Fund, Inc.

2007-Present

BlackRock Long-Term Municipal Advantage Trust

2007-Present

BlackRock Credit Allocation Income Trust

2007-Present

BlackRock International Growth and Income Trust

2007-Present

BlackRock Defined Opportunity Credit Trust

2007-Present

BlackRock Taxable Municipal Bond Trust

2007-Present

Chairman of the Board of Trustees, Chairman of Executive Committee, Chairman of Leverage Committee, Member of Governance & Nominating Committee, Member of Compliance Committee and Member of Performance Oversight Committee

Blackrock Resources & Commodities Strategy Trust

2008-Present

Chairman, Member of Executive Committee, Member of Governance & Nominating Committee, Member of Performance Oversight Committee and Member of Compliance Committee

BlackRock Core Alternatives FB TEI Portfolio LLC