Aspen Funds

Macro-Driven Alternative Investments. Private funds for accredited investors. After a casual cup of coffee with Bob Fraser, the idea for Aspen Funds was created.

Aspen Funds was started by Bob Fraser and Jim Maffuccio in early 2012 to take advantage of a unique opportunity in residential real estate notes. Experiencing the volatility of the stock market, and seeing investors take large losses in their portfolios, Bob and Jim were determined design an investment fund that would provide excellent investor returns, but without the volatility of traditional in

vestment options. Jim has spent a 30+ year career in real estate, and in 2010 began looking into the mortgage notes space. Through all his experience in real estate, he understood that the financing was always the key, and that through all the ups and downs of real estate investing, it was the banks who always seemed to survive and thrive. By the end of 2011, he was fully engaged developing key relationships and investing in the mortgage industry. With Jim’s 30-year background in real estate and Bob’s 20-year background in finance, they raised capital for their first fund. Since then, Aspen Funds has steadily grown over the past 6 years, now managing 3 different funds. And because of their track record and reputation in the industry, many new and significant opportunities have opened up to Aspen, and therefore are actively raising capital.

06/03/2026

The Aspen Private Credit fund continued to deliver resilient and predictable income for investors in Q1.

*Q1 2026 net returns:
Class A — 10.28%
Class B — 12.82%

Structured with downside protection. Every deal is a new acquisition — not a rescue of someone else's 2021 mistake. And with banks still stepping back from commercial real estate, the opportunity to step in as the lender remains strong.

Watch the full Q1 update to hear why real estate-backed private credit continues to be one of the top income-producing investments of 2026. The full webinar is now available on our website.

Watch the full Q1 performance walkthrough here: https://vist.ly/56hpt

*𝑇ℎ𝑒𝑠𝑒 𝑟𝑒𝑡𝑢𝑟𝑛𝑠 𝑎𝑟𝑒 𝑛𝑜𝑡 𝑎𝑢𝑑𝑖𝑡𝑒𝑑 𝑎𝑛𝑑 𝑝𝑎𝑠𝑡 𝑝𝑒𝑟𝑓𝑜𝑟𝑚𝑎𝑛𝑐𝑒 𝑖𝑠 𝑛𝑜𝑡 𝑖𝑛𝑑𝑖𝑐𝑎𝑡𝑖𝑣𝑒 𝑜𝑓 𝑓𝑢𝑡𝑢𝑟𝑒 𝑟𝑒𝑠𝑢𝑙𝑡𝑠. 𝑇ℎ𝑖𝑠 𝑖𝑠 𝑛𝑜𝑡 𝑎𝑛 𝑜𝑓𝑓𝑒𝑟 𝑜𝑟 𝑠𝑜𝑙𝑖𝑐𝑖𝑡𝑎𝑡𝑖𝑜𝑛 𝑜𝑓 𝑎 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦.

05/02/2026

If you’re on the fence about May 15, here’s a simple way to think about it:

If spending a day getting clearer on where things are headed—and having real conversations with other investors—sounds valuable…

you’ll be glad you came.

If not, no worries.

But if it does, now’s the time to decide.

Register Here: https://vist.ly/42qnq

04/29/2026

We’ll spend the day digging into strategy, markets, and where we’re headed.

But honestly—one of the best parts of the Shareholder Event happens at the end of the day.
We’re heading out to Aubrey Vineyards.

Good food. Local wine. Live music.

And a room full of investors who think a little differently.

No presentations. No structure.

Just a chance to slow down, have real conversations, and enjoy the evening.

If you’re coming, don’t miss this part.

Register here: https://vist.ly/42cev

04/28/2026

Good investing isn’t just access—it’s perspective.

The Aspen Investor Club was built to provide both:
a better understanding of your strategy, ongoing insights, and early access to opportunities.

If that resonates, you can apply here: https://vist.ly/426wy

04/21/2026

One of the biggest constraints in traditional real estate investing:
𝐓𝐢𝐦𝐞.

Fixed timelines often force decisions that aren’t aligned with market conditions.

Sell too early → leave upside on the table
Hold too long → miss better opportunities

That’s why we’re seeing increased interest in evergreen structures.

They’re designed to:
• Reduce forced exits
• Allow capital to compound over time
• Provide flexibility across cycles

Structure isn’t just a detail—it directly impacts outcomes.

Learn more about why we chose an evergreen model for the Aspen Legacy Fund: https://vist.ly/4zajf

04/17/2026

Building a portfolio isn’t about more opportunities—
it’s about the right ones, at the right time.

The Aspen Investor Club helps you stay aligned through:
• A conversation around your goals
• Ongoing insights
• Early access to new opportunities

Apply here: https://vist.ly/4yv3v

04/15/2026

Heads up — Happy Hour is tomorrow and we're getting close to capacity.

We cap these at around 20–25 people, which is the whole point. If you've been meaning to grab a spot, now's the time.

Kansas City Bier Company · 310 W 79th St · 4–6 PM CT · Free

𝐑𝐞𝐬𝐞𝐫𝐯𝐞 𝐲𝐨𝐮𝐫 𝐬𝐩𝐨𝐭: https://vist.ly/4yj7i

04/14/2026

Compounding only works if you can stay invested.

The challenge?

Most real estate investments interrupt compounding:
• Forced exits
• Unpredictable liquidity
• Tax events you don’t control

That’s not how institutional capital is structured.
The 𝐀𝐬𝐩𝐞𝐧 𝐋𝐞𝐠𝐚𝐜𝐲 𝐅𝐮𝐧𝐝 was designed around a different principle:

→ Long-term, uninterrupted compounding with investor control.
We covered this in detail in our recent webinar.

You can watch the replay and review the structure here.
https://vist.ly/4yfd7

04/13/2026

There are more serious alternative investors in Kansas City than most people realize.

These events exist because we think that group deserves a place to actually talk.

April 16 · Kansas City Bier Company · 4–6 PM CT
Free, small, no agenda.

Here’s the link to register if you want to join us.
https://vist.ly/4yb3u

04/11/2026

If you've come to one of our Happy Hours before — you already know.

If you haven't, the honest version is: it's a small room, real conversation, direct access to the Aspen team, and you usually leave with something worth thinking about. No hard sell waiting at the end.

April 16 at Kansas City Bier Company.

Register Here: https://vist.ly/4y5kf

Address

5700 W 112th Street, Ste 110
Overland Park, KS
66211

Website

https://aspenfunds.us/, https://www.linkedin.com/company/aspen-funds/

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