LP Deal Review | Aspen Funds | Aspen Private Credit Fund

February 13, 2025

In the latest episode of our Deal Review Series, Ben Fraser from Aspen Funds presents the Aspen Private Credit Fund to our LP panel: Jim Pfeifer, Paul Shannon, and Litan Yahav.

The LP Panel asks questions like:

Can you explain the differences between preferred equity, mezzanine debt, and bridge loans, and how they fit into the capital stack?
How has the fund’s NAV performed historically, what is the average time for liquidity requests, and how closely has the actual allocation matched the target allocation?
Do the origination fees stay with Aspen Funds, or are they included in investor distributions?
How much leverage does the fund use, and how does it impact investor risk, particularly regarding UBIT and downside protection?
What asset classes does the fund lend to, and how does Aspen ensure operational expertise in case of a default where they need to take over an asset?

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About the Deal

Aspen Funds is pleased to present the Aspen Private Credit Fund, an open-ended fund focused on providing credit to commercial real estate properties, with target annual returns of 11%-14%, 10%-12% net cash yield, and options for monthly distributions or reinvestment. With a two-year lock-up period and quarterly profit sharing, the fund targets multifamily, industrial, and retail assets and is IRA-eligible. Backed by 11 years of successful management, Aspen Funds has distributed over $60 million to investors, demonstrating stability and strong performance.

Want to learn more about the deal?

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