Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  BlackRock Inc.
 2. Date of Event Requiring Statement (Month/Day/Year)
07/02/2012		 3. Issuer Name and Ticker or Trading Symbol
BlackRock Alternatives Allocation FB Portfolio LLC [BAAP FB]
(Last)
(First)
(Middle)
55 EAST 52ND STREET		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Affil. of Investment Adviser
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10055		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 3,000,000
I
See Remarks

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
BlackRock Inc.
55 EAST 52ND STREET
NEW YORK, NY 10055		     X   Affil. of Investment Adviser

Signatures

/s/ Aaron Wasserman as Director 07/02/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
 
Remarks:
On April 1, 2012, BlackRock Holdco 2, Inc., a wholly owned subsidiary of the Reporting Person, purchased 2,990,000 shares of the Issuer's common stock in the Issuer's initial public offering in order to provide the Issuer with seed capital. At the time of this purchase by BlackRock Holdco 2, Inc., BlackRock Holdco 2, Inc. also owned 9,000 shares, and BlackRock Advisors, LLC, also a wholly owned subsidiary of the Reporting Person, owned 1,000 shares, of the Issuer's common stock, which they had purchased in a private placement as part of a transaction pursuant to which the Issuer was provided with net capital sufficient to meet the requirements of Section 14(a) of the Investment Company Act of 1940. Prior to July 2, 2012, BlackRock Holdco 2, Inc. and BlackRock Advisors, LLC were the Issuer's sole shareholders.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.