John Perlowski
About John M. Perlowski
- Director/Trustee and President & Chief Executive Officer of the Funds; Trustee since 2014 and President & CEO since 2011; born 1964; designated an “interested person” due to his role at BlackRock, Inc.
- Managing Director of BlackRock, Inc. and Head of BlackRock Global Accounting and Product Services since 2009; no public company directorships in the past five years disclosed
- Member of the Executive Committee of the Boards (acts on routine/urgent matters between meetings); Chairs of all standing committees are Independent Board Members; the Board Chair is independent, distinct from the CEO
- Performance metrics (e.g., TSR) and operating KPIs are not provided in the Funds’ proxy materials, and officer pay is at the BlackRock advisor level, not the Fund level
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| BlackRock, Inc. | Managing Director; Head, Global Accounting & Product Services | Since 2009 | Oversight of fund operations, accounting, and product services across the complex |
| Goldman Sachs Asset Management | Managing Director & COO, Global Product Group | Prior to 2009 | Product and operating leadership experience relevant to fund governance and operations |
| Goldman Sachs Mutual Funds | Treasurer and Senior Vice President | Prior to 2009 | Fund finance and governance experience |
| Goldman Sachs Offshore Funds | Director | Prior to 2009 | Offshore fund oversight and governance experience |
External Roles
- Advisory Director, Family Resource Network (charitable foundation) since 2009
- Public company directorships (last five years): None
Fixed Compensation
- Fund-level officer pay: With the exception of the Chief Compliance Officer, executive officers receive no compensation from the Funds; Messrs. Perlowski and Fairbairn serve without compensation from the Funds due to their affiliation with BlackRock (compensation, if any, is paid by the advisor)
Director compensation context (Independent Board Members only; Perlowski, as an interested Board Member, does not receive these fees):
| Component | Amount |
|---|---|
| Annual retainer (Independent Board Member) | $370,000 |
| Chair of the Boards (additional) | $140,000 |
| Vice Chair of the Boards (additional) | $84,000 |
| Committee Chair retainers (Audit/POC/Compliance/Governance/Discount/Securities Lending) | $55,000 / $42,500 / $50,000 / $42,500 / $25,000 / $20,000 |
| Committee member retainers (Audit/Compliance/Governance/Discount/Securities Lending) | $30,000 / $25,000 / $25,000 / $20,000 / $15,000 |
| Deferred comp plan | Up to 50% may be deferred; returns mirror selected funds; plan is unfunded, a general unsecured obligation |
Performance Compensation
- Not disclosed at the Fund level; no RSUs/PSUs/options or bonus metrics for Fund officers are presented in the proxy; officer compensation is at the BlackRock advisor level (not disclosed here)
Equity Ownership & Alignment
- Appendix C (Board/Nominee holdings) shows no BDJ position listed for John M. Perlowski as of the 2023, 2024, or 2025 snapshots (absence from his listed holdings)
John M. Perlowski – disclosed Fund shareholdings (snapshots)
| As-of Date | Fund | Common Shares | Dollar Range |
|---|---|---|---|
| Apr 30, 2023 | BlackRock Debt Strategies Fund, Inc. | 5,117.507 | $10,001 – $50,000 |
| Apr 30, 2023 | BlackRock Floating Rate Income Strategies Fund, Inc. | 2,081.6318 | $10,001 – $50,000 |
| Mar 31, 2024 | BlackRock Debt Strategies Fund, Inc. | 5,648.5234 | $50,001 – $100,000 |
| Mar 31, 2024 | BlackRock Floating Rate Income Strategies Fund, Inc. | 2,311.3056 | $10,001 – $50,000 |
| Feb 28, 2025 | BlackRock Debt Strategies Fund, Inc. | 6,239.1797 | $50,001 – $100,000 |
| Feb 28, 2025 | BlackRock Floating Rate Income Strategies Fund, Inc. | 2,564.2438 | $10,001 – $50,000 |
| Feb 28, 2025 | BlackRock Technology and Private Equity Term Trust | 7,100.0000 | $50,001 – $100,000 |
Notes:
- No BDJ holdings disclosed for Perlowski in these Appendix C tables .
- No pledging/hedging or derivative positions are disclosed in the proxy materials .
Employment Terms
- Board term classification: For BDJ (one of “all other Funds”), Perlowski’s Board term is indicated as 2026; he serves as Director/Trustee from 2014 to present and as President & CEO from 2011 to present .
- Interested Board Members serve until resignation/removal/death, or until December 31 of the year they turn 72, unless waived by a majority of the Board Members for good cause .
- Officer term: President & CEO is an annual appointment; officers (other than CCO) receive no compensation from the Funds .
- Executive/board structure and activity (BDJ):
- Executive Committee: R. Glenn Hubbard (Chair, Independent), W. Carl Kester (Independent), and John M. Perlowski (Interested); empowered to act between meetings and on urgent matters; can authorize leverage-related actions between regular Board meetings .
- BDJ Board and Committee meetings in most recent fiscal year:
- Audit: 8; Governance: 5; Compliance: 4; Performance Oversight: 4; Discount: 3; Securities Lending: 2; Executive: 1 .
- Board meeting cadence (calendar 2024): BDJ’s Board met seven times; no incumbent Board Member attended less than 75% of aggregate meetings/committees .
| BDJ Governance Activity (Most Recent FY) | Count |
|---|---|
| Audit Committee Meetings | 8 |
| Governance Committee Meetings | 5 |
| Compliance Committee Meetings | 4 |
| Performance Oversight Committee Meetings | 4 |
| Discount Committee Meetings | 3 |
| Securities Lending Committee Meetings | 2 |
| Executive Committee Meetings | 1 |
Board Governance
- Independence and roles: Perlowski is an “interested person” of the Funds based on his position with BlackRock; Board Chair and all Committee Chairs are Independent Board Members; the Chair and CEO roles are separate .
- Committee membership: Perlowski serves on the Executive Committee; other standing committees (Audit, Governance, Compliance, Performance Oversight, Discount, Securities Lending) are chaired by independent directors .
- Board nominations and elections are proposed and voted at joint annual meetings; Perlowski is a standing nominee across multiple BlackRock closed-end funds .
Risk Indicators & Red Flags
- Independence: As an interested Board Member and the Funds’ CEO, Perlowski is not independent; however, the Board structure includes an Independent Chair and independent committee leadership, which mitigates concentration of power .
- Alignment: No BDJ share ownership is disclosed for Perlowski in recent Appendix C snapshots, suggesting limited direct “skin in the game” in BDJ specifically; he does hold shares in other BlackRock closed-end funds .
- Related party and compensation conflicts: Officers (including Perlowski) are affiliated with BlackRock and serve without compensation from the Funds; independent trustees’ compensation is paid by the Funds per pro rata formulations; no tax gross-ups or loans are disclosed in these materials .
- Attendance: No incumbent Board Member fell below 75% attendance in the most recent year .
Say-on-Pay & Shareholder Feedback
- Not applicable; mutual funds/closed-end funds do not provide “say-on-pay” for fund officers; compensation information for independent Board Members is disclosed in Appendix B .
Compensation Peer Group
- Not applicable; fund proxies disclose independent Board Member fee schedules rather than a corporate executive peer benchmarking framework .
Expertise & Qualifications
- Long-tenured fund executive and trustee with extensive fund operations and product governance expertise at BlackRock; prior leadership roles at Goldman Sachs Asset Management and in mutual/offshore fund governance .
- No educational degrees are disclosed in the proxy materials .
Work History & Career Trajectory
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| BlackRock, Inc. | Managing Director; Head, Global Accounting & Product Services | Since 2009 | Senior operational leadership across Funds |
| BlackRock Closed-End Funds | President & CEO | Since 2011 | Principal executive officer of the Funds |
| BlackRock Closed-End Funds | Director/Trustee | Since 2014 | Board service across the complex |
| Goldman Sachs AM and affiliated funds | MD & COO (Global Product Group); Treasurer/SVP (GS Mutual Funds); Director (GS Offshore Funds) | Prior to 2009 | Product, finance, and governance roles |
Performance Compensation (Metrics/Weighting/Vesting)
- Not disclosed in Fund proxy statements; no RSU/PSU/option schedules, performance metrics, or vesting terms are provided for Fund officers; compensation is paid by the advisor (BlackRock) rather than by the Funds .
Director Compensation (Independent Board Members)
- See Fixed Compensation table for retainers and committee fees; deferral program available up to 50% of compensation; Messrs. Perlowski and Fairbairn receive no compensation from the Funds .
Investment Implications
- Pay-for-performance alignment is not assessable at the Fund level given officers receive no Fund compensation and advisor-level pay is undisclosed; monitor BlackRock Inc. disclosures for any changes that could influence incentives .
- Governance checks: Board Chair and committee chairs are independent; Perlowski is an “interested” director but governance design provides separation of powers (mitigates dual-role concerns such as CEO/Chair consolidation) .
- Alignment watchpoint: No BDJ ownership disclosed for Perlowski in recent snapshots; while he holds shares in other BlackRock funds, lack of BDJ holdings may imply limited direct alignment with BDJ shareholders; continue to monitor Appendix C in future proxies for changes .
- Trading signals/pressure: No insider selling of BDJ is indicated in the proxy materials, and no pledging/hedging disclosures are provided; absence of BDJ ownership suggests minimal direct stock-sale pressure related to BDJ itself .
Citations:
- Biographical roles, terms, independence:
- Committee structure and meetings (BDJ):
- Board cadence and attendance (2024):
- Independent director compensation (Appendix B):
- Equity ownership (Appendix C snapshots):
- Board leadership independence: