~477
Acres Under Control*
4M+
SF Buildable Pipeline*
760K+
SF Developed to Date*
50–60%
Conservative LTV*
*As of May 2026
Manufacturing is coming home. The infrastructure needs building.
Companies are bringing production back to U.S. soil at the fastest pace in decades — but industrial construction starts have hit decade lows. The result is rising rents, falling vacancy, and a shrinking window to acquire well-located land before the market prices it in.
Read The Full Industrial Thesis
Why Kansas City
Not only home to Aspen Funds, Kansas City is a top-15 U.S. industrial market and an emerging "supernode" at the intersection of the I-35 and I-70 corridors.
Top 15
U.S. Industrial Market
Top 10
For Foreign Business
190K+
Manufacturing & Logistics Jobs
90%
Of U.S. Reached in 2 Days
#1
YOY Rent Growth (2024)
Kansas City will emerge as an industrial "supernode" for the United States, leveraging its access to the I-35 and I-70 corridors that connect to all parts of the country.
Industrial & Logistics Research
Dedicated Industrial Team
Led by Dan Schulte alongside the Aspen Funds executive team, with development executed by Crossland Construction and leasing led by NAI Heartland.
Ben Fraser
President, Chief Investment Officer
20+ years in asset management, private equity, and real estate. Former SVP and General Counsel at Waddell & Reed. Began career at Ernst & Young.
Strategic Partners
leasing advisor
Leads industrial leasing and advisory for Aspen's Kansas development projects. Deep relationships with institutional and credit tenants across the Midwest — including active build-to-suit negotiations on the Hedges North parcel.
Development Partner
One of the largest general contractors in the Midwest with proven capabilities in ground-up industrial development — including tilt-up concrete and steel-frame warehouse construction. Delivers projects on time and under budget.
Legal Counsel
Am Law 100 firm with deep expertise in real estate, land use, and economic development incentives. Handles all entitlement, zoning, and tax abatement work for Aspen Industrial's Kansas City development sites.
Why Investors Choose Aspen Funds
Macro-Driven Approach
Macro trends move markets. We identify them early and invest with the tide, not against it.
100% Co-Investment
Our executives invest personal capital alongside you in every fund. When we lose, we lose together. Our interests are structurally aligned, not contractually adjacent.
Uncorrelated Verticals
Four distinct macro theses with different return drivers - construct client allocations across strategies that don't move in lockstep, improving diversification.
Dedicated Operations
In-house teams with specialized expertise running each vertical, ensuring consistent execution and strong operational oversight.
Explore Aspen's Other Verticals
Aspen Credit
Debt-based returns through mortgage notes and CRE lending. Evergreen funds with monthly distributions.
Aspen Energy
Direct oil & gas exposure with IDC deductions and depletion allowances. 14–18% targeted.
Aspen Multifamily
Multifamily real estate in strong demographic markets. 12–16% targeted returns.