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 investment 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.

09/11/2026

🦉 This week’s ASPY goes to Hannah dela Cruz! 🏆

ASPY spent the week with Hannah, and they had a blast. 🚀

Here is real, completely unedited footage of the two of them from Thursday.

There really isn’t much Hannah can’t do. She’s incredibly skilled at what she does, but never afraid to try something new, take on a challenge, or find a better way to do something. She works incredibly fast, thinks several steps ahead, and somehow solves problems before they even become problems. Hannah consistently goes above and beyond, and we’re all better for it.

She’s also gotten pretty good at AI.

Though that’s completely unrelated to this very real video.

Congrats on a very well-deserved ASPY, Hannah! 🏆 And ASPY, please submit your travel expenses by EOD. 🦉

09/04/2026

🦉 This week’s ASPY goes to our multimedia producer, 𝐊𝐚𝐭𝐲 𝐂𝐨𝐥𝐥𝐨𝐭𝐨𝐧! 👏🎬

ASPY spent the week with Katy and is already calling himself our "Executive Producer." He was last seen attempting to set up studio lighting in the breakroom and trying to coordinate a 4-person video shoot during lunch.

Safe to say, he quickly realized that getting everyone’s schedules aligned for content is a true feat!

Since joining Aspen, Katy has completely leveled up all forms of our content. From bringing fresh creativity to every project to seamlessly wrangling schedules and bringing the team together on camera, she makes the behind-the-scenes magic happen. The finished products look fantastic, and her impact on our brand is felt every day.

Congrats, Katy! Thanks for making Aspen look good. Also, ASPY would like it noted that he does his own stunts.🦉✨

08/31/2026

Congrats to 𝐖𝐚𝐥𝐤𝐞𝐫 𝐖𝐨𝐨𝐝 on a successful summer internship at Aspen Funds! 🎉

We loved having you on the team, Walker. Thanks for all your hard work and great attitude this summer.

We’d also like to thank 𝐌𝐢𝐤𝐞 for his unwavering commitment to Walker’s professional development.

We’ll miss you, Walker!

08/28/2026

One of these guys knows how to close a deal. The other is an owl in sunglasses. 😎🦉

🏆 This week’s ASPY goes to 𝐓𝐞𝐫𝐫𝐚𝐧𝐜𝐞 𝐖𝐢𝐬𝐞!

ASPY decided to shadow Terrance to learn a thing or two about spotting a good deal. By Wednesday, ASPY was calling himself “VP of Vibes” and referring to the break room as “a compelling opportunity.”

ASPY’s also asked “What’s the cap rate?” six times. He means literally.

Terrance has had some big wins lately, and they couldn’t be more deserved. He’s someone who makes things happen, follows through, and brings great energy to everything he does. More than anything, he’s just a genuine joy to work with and have around.

Thank you for all you do, Terrance! 🏆🦉

08/24/2026

𝐎𝐮𝐫 𝐧𝐞𝐰 𝐰𝐞𝐛𝐬𝐢𝐭𝐞 𝐢𝐬 𝐥𝐢𝐯𝐞.

Thirteen years ago, Jim Maffuccio and Bob Fraser built the firm on one macro thesis. That thesis is now a multi-vertical platform: private credit, oil and gas, industrial real estate, mortgage notes.

Macro-driven isn't a marketing line for us. It's how we decide where capital goes. The new site lays out what we believe about the economy today, and which funds are currently open.

See our macro convictions and current offerings: aspenfunds.us/offerings

08/21/2026

🦉 This week’s ASPY goes to the boss himself: 𝐁𝐞𝐧 𝐅𝐫𝐚𝐬𝐞𝐫! 👏🏆

One week with the President and suddenly ASPY has opinions about our growth strategy.

Ben read him Invest Like a Billionaire, and now ASPY is looking to diversify his nest egg. 📚💰 He’s accepting investment opportunities. Minimum check size: one field mouse.

Ben received the ASPY this week for inspiring all of us to aim higher. He has a way of making big goals feel possible, giving us the encouragement, support, and resources to get there. He’s the kind of leader who makes everyone around him want to get better.

Congrats, Ben! Thanks for always helping this team soar. 🦉🏆

08/14/2026

🦉 This week’s ASPY goes to a familiar face: ! 👏🏆

Looks like hanging out with Jake has ASPY stepping up his sneaker game. 👟

“I saw Jake wearing Jordans, so I bought Jordans.” - ASPY

Earning the ASPY for a second time says a lot about the impact Jake has at Aspen. He’s been an incredible collaborator across teams, helping improve communication and streamline processes. He’s also played a big role in building the operational foundation Aspen needs as we continue to grow. Jake is always thinking about how we can work better today while preparing for where we’re headed next.

Congrats, Jake! ASPY (and everyone at Aspen) thinks you’re one fly guy. 🦉👟

08/12/2026

The Debt vs Private Credit Webinar is happening tomorrow.

We'll get into where you actually sit in the capital stack, how debt and preferred equity get paid differently when a deal underperforms, and how to figure out which structure fits what you need your money to do, not just what pays the highest number.

Bring your questions. That's usually where things get specific to your situation.

Can't make it? Register anyway. We'll send the replay either way. Live gets you direct access to ask Ellis, but the recording's yours regardless.

𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐇𝐞𝐫𝐞: https://vist.ly/5ejwq

08/10/2026

Could you explain why a private credit fund and a debt fund get taxed differently?

Most investors can't, and it's the difference that actually shows up in net income.

Ellis Hammond, VP of Capital at Aspen Funds, is running a 30 minute session on it this week.

Here's what's on the agenda:
- The structure and return profile behind each strategy
- How taxation changes your real, after-tax income
- Why a number of investors hold both instead of picking one

𝐑𝐞𝐠𝐢𝐬𝐭𝐞𝐫 𝐡𝐞𝐫𝐞: https://vist.ly/5eagj

08/09/2026

Honored to be featured in Ingram's Magazine as the second fastest-growing company in Kansas City alongside many other great businesses and leaders!

This #2 spot shows the rapidly rising interest in alternative investments as investors seek a safe haven from an overhyped market.

We now serve more than 1000 accredited investors and their families and look forward to building upon that trust and reputation.

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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