Introducing the Aspen Private Credit Fund

Accredited Investors: Add Monthly Cash Flow And Upside Growth To Your Portfolio

EXECUTIVE SUMMARY
Aspen Funds is pleased to present the Aspen Private Credit Fund, an open-ended fund focused on providing credit to commercial real estate properties. A dislocation in the capital markets has created a unique opportunity for non-bank lenders to provide capital through preferred equity, mezzanine debt & bridge loans. This Fund will be focused on providing current cash yield and upside through profit share while investing in preferred positions in the underlying investment.

BENEFITS OF INVESTING IN PRIVATE CREDIT

  • ​​Priority of payment before common equity​
  • Current cash flow
  • ​Lower in the capital stack, reduces risk of capital loss​
  • ​Generally can take over a deal or force a sale if not meeting expectations

Fund Overview

Regular Distributions

  • ​Preferred return distributions paid monthly, as available after 3 months
  • ​Profit share paid out quarterly, as available after 3 months
  • ​Option to automatically reinvest, compounded quarterly

Strategy & Tranches

  • ​Open-end fund, with quarterly NAV calculations, capital funded in tranches based on availability
  • ​Fund will invest in preferred equity or mezzanine loans in commercial real estate
  • ​Focus of Fund will be generating current cash, plus profits at a preferred position in the capital stack

Investor Protection

  • ​Non-dilutive: New cash is deployed into producing assets​
  • ​High-water mark: unit price must exceed highest 12-month price before manager profit-share is paid

Returns & Reporting

  • ​Preferred return distributions paid monthly, as available
  • ​Profit share paid out quarterly, as available​
  • ​Option to automatically reinvest, compounded quarterly

Liquidity

  • ​Investors may request full or partial redemption quarterly after 2-year lock-up period on 90 days notice (best efforts, may take up to 6 months for full payout)

Structure

  • ​Minimum investment: $100,000
  • ​AUM Fee: varies by share class
  • ​Verified accredited investors only
  • ​Annual CPA audit
  • ​Low leverage
  • ​IRA investment welcome
  • ​Results are not guaranteed

Share Class Overview

*Performance shown are targeted returns and are not guaranteed.

Class A Shares*

  • Minimum Investment: $100,000
  • Preferred Return: 6%​​
  • ​LP/GP Promote: 70/30*
  • Target Net Total Return (annualized): 10-12%
  • Target Net Cash Yield (annualized): 8-11%
  • Target Compounded Return (annualized): 11-14%
  • AUM Fee: 2%

Class B Shares*

  • Minimum Investment: $1,000,000
  • Preferred Return: 7​%​
  • ​LP/GP Promote: 80/20*
  • Target Net Total Return (annualized): 11-13%
  • Target Net Cash Yield (annualized): 9-12%
  • Target Compounded Return (annualized): 12-15%
  • AUM Fee: 1.5%

Class C Shares*

  • Minimum Investment: $5,000,000
  • Preferred Return: 8%​​
  • ​LP/GP Promote: 90/10*
  • Target Net Total Return (annualized): 12-14%
  • Target Net Cash Yield (annualized): 10-13%
  • Target Compounded Return (annualized): 13-16%
  • AUM Fee: 1%

Key Reasons to Invest

1. High Current Yield

  • Focus of the Fund will be on delivering a high current yield paid monthly, with additional profits shared quarterly, creative passive cash flow.

2. Preferred Position in the Capital Stack

2. Preferred Position in the 
Capital Stack

  • Fund investments will be in preferred positions in underlying assets with priority of payment before common equity holders, and generally with takeover rights for events of default.

3. Open-Ended Structure

  • Fund will accept capital contributions quarterly at the Net Asset Value. Investors will receive quarterly statements of account and will have optional liquidity after a 2-year lockup period.

4. Strong Sponsor Team

  • Aspen Funds is lead sponsor of this Fund, an 11+ year track operating open-ended credit funds. We will leverage our deep experience in this space and internal staff.

5. Alignment &
Co-Investment

5. Alignment & Co-Investment

  • Aspen Funds management team are co-investing personal capital in this Fund. Further, our incentive structure prioritizes a preferred return to our limited partners.

6. Diversified Portfolio

  • ​Fund will make investments into multiple projects, markets & operators. As Fund grows, we expect the diversification to be further enhanced.

How do we source deals?

Placement Agents

  • ​We utilize our established broker network to source pre-vetted deals
  • Brokers are selective on types of deals they represent for financing
  • ​Difficult to place investments below $5MM

Lenders

  • ​We have forged relationships directly with lenders who borrower's need capital infusions
  • ​Lenders may want to keep the deal, but have tapped out their ability to fund capital need

Sponsor Network

  • ​Because of our position in the market, we generate deal flow from existing sponsor network
  • ​We have been able to negotiate preferred terms through our Fund which brings committed capital for their deal​

STILL GOT QUESTIONS? WE GOT YOU!

Check our FAQs

Check our FAQs and then Soft Commit to save your spot

1. How long has Aspen Funds been managing funds?

Aspen Funds has been managing funds since 2013.

2. What is the minimum investment?

The minimum investment in Aspen Private Credit Fund is $100,000.

3. What is the initial lock-up period on this fund?

The initial lock-up period for this fund is 2 years. After 2-years we provide best-efforts liquidity and allow investors the option to redeem their shares on a quarterly basis with 90 days written notice.

4. Is this an open-ended fund?

Yes, this fund is open-ended, also known as an evergreen fund. We calculate Net Asset Value (NAV) on a quarterly basis and allow investors to subscribe and redeem at the current share price.

5. What is a NAV and how is it calculated?

Net Asset Value (aka "NAV") is the net value of an investment fund's assets less its liabilities, divided by the number of shares outstanding.

6. When will I start seeing distributions?

Preferred returns will begin to accrue 90 days post funding, with the first distribution available the following month.

7. How often will I be updated about my investment?

On a monthly basis, investors receive their preferred return. Quarterly, we provide capital account statements, investor newsletters, and financial statements. We also always welcome calls from our investors.

8. Do I need to be an accredited investor to invest in the fund?

Yes, our funds currently only allow accredited investors.

9. Can I invest with an IRA or 401K?

Yes, our funds allow investment through qualified retirement money. This must be done through a self-directed IRA or 401K. If you don’t yet have a self-directed account, we can make introductions to several custodians that we have worked with. Additionally, our funds do not generate Unrelated Business Income Tax (UBIT).

10. What is an accredited investor?

An individual or an entity can generally qualify as an accredited investor if they meet at least one of the following criteria: an individual with income exceeding $200,000 or joint income with his or her spouse of at least $300,000, in each of the last two years with the expectation to reasonably maintain the same level of income in the present year; an individual with a net worth exceeding $1 million, excluding the primary residence, either individually or jointly with his or her spouse; an entity that has assets exceeding $5 million that was not formed solely for the purpose of making the investment; or an entity whose owners all satisfy 1, 2, or 3 above. For more information about the requirements of an accredited investor, see this bulletin from the SEC.

NO OFFER: This presentation (“Presentation”) is neither an offer to sell nor a solicitation of an offer to buy any security, nor is it an offer of any sort of investment advice. Instead, it is intended to describe an investment vehicle sponsored by Aspen Private Credit Manager, LLC (“APCM”), Aspen Private Credit Fund, LLC (the “Offering”). An offer may only be made via a written offering document (“Memorandum”) provided by the Fund that offers Units of limited liability company interests in the Fund (“Units”). APCM has prepared this Presentation solely to enable you to determine whether you are interested in receiving additional information about the Fund. This Presentation is not intended to be relied upon as the basis for an investment decision, and is not complete.

LIMITATIONS: While many of the thoughts expressed in this Presentation are stated in a factual manner, the discussion reflects only APCM’s beliefs about the markets in which the Fund may invest when following its investment strategies as described in more detail in the Memorandum. Any descriptions of the investment strategy herein are in preliminary form, are incomplete and do not include all of the information needed to evaluate any potential investment in the Offering. An investment in the Offering involves substantial risks, some of which are discussed in the Memorandum, and which include risks associated with mortgages investments generally, risks associated with the Offering’s investments, conflicts of interest risks, regulatory risks, and tax and management risks. Only by carefully reviewing and considering those factors and the disclosures provided in the Memorandum (in addition to other independent investigations) could an investor or their representative determine whether such risks, as well as APCM’s experience and compensation, conflicts of interest, and other information contained therein are acceptable to the investor. Material in this Presentation, including any projected returns for the Offering, does not account for the impact of taxes on the Offering, its structure or its investors that may be imposed by the U.S. or any other jurisdiction. APCM and its affiliates have complete control over the Offering’s operations and the management of its assets. There are significant restrictions on the transferability of the Units, there is no market for Units and no person should invest with the expectation of monetizing Units other than as permitted in the Offering’s Operating Agreement. The Offering’s fees and expenses, which include compensation of APCM, may outweigh the Offering’s gains, if any.

CONFIDENTIALITY: APCM reserves all copyright and intellectual property rights to the content, information and data within this Presentation. The contents in this Presentation are protected by copyright and no part or parts hereof may be modified, reproduced, stored in a retrieval system, transmitted (in any form or by any means), copied, distributed, published, displayed, broadcasted, used for creating derivative works or used in any other way for commercial or public purposes without the prior written consent of APCM. The recipient agrees to keep the contents of this Presentation confidential and use it solely to evaluate whether further investigation of the Offering is warranted.

FORWARD LOOKING STATEMENTS: Some of the material contained in this Presentation is not based on historical facts and is deemed to be “forward-looking.” Forward-looking statements reflect APCM’s current expectations and are inherently uncertain, and actual results may differ significantly from projections herein. Although APCM believes that the expectations reflected in all forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance, or achievements. Neither the Offering, APCM, nor any other person assumes responsibility for the accuracy and completeness of any forward-looking statements. APCM is under no duty to update any of the forward-looking statements to conform them to actual results or to changes in its expectations.

PROJECTIONS: While projections about the Offering’s performance are based on APCM’s experience and good faith judgments, the recipient should understand that projections are based on numerous assumptions about how the Offering may perform, including that applicable tax regimes do not change, that existing asset performance trends will continue to track business plans, that historical behavior of APCM loan types will not change fundamentally, that perception of market opportunities for acquisition and disposition will hold true, and that the competitive landscape within which each asset operates will not change fundamentally. Any number of factors could contribute to results that are materially different.

PERFORMANCE INFORMATION: Information about APCM’s prior investment vehicles it has sponsored (the “Vehicles”) contained herein has not been audited or reviewed by any third party. The recipient should understand that the Vehicles’ performance was achieved in different economic cycles, APCM’s participation and / or management responsibility varied, and the Vehicles utilized investment strategies and capital sources that may differ considerably from that which the Offering will use. Additionally, the Offering’s terms may differ materially from the Vehicles’ governing documents. Therefore, the recipient should not assume that the Offering would be able to replicate any Vehicle’s performance, even though there may be overlaps in the Offering’s strategies and the strategies that may have been utilized by any of the Vehicles. With respect to performance presented in the Presentation, the recipient should consider the following: all investments carry risk and the Offering’s strategies may experience losses.

Our commitment to accessibility


Aspen Funds is committed to making our website accessible and user friendly to all. While w are constantly working to improve, we
Welcome your feedback and accommodation requests. If you are having difficulty accessing o navigating our website, or if you
Have any suffusions to improve accessibility, please email our team. Funnel By: FunnelSite.

© Copyright 2024 Aspen Funds LLC | All Rights Reserved - Privacy Policy - Terms And Conditions