JF 4184: How to Build a Multi-Asset Fund-of-Funds Program at Massive Scale ft. Ben Fraser

Seth Bradley interviews Ben Fraser, Managing Director and Chief Investment Officer at Aspen Funds, on how Aspen built a scalable fund-to-funds platform to support more than 40 independent capital aggregators in 2025 alone. Ben breaks down Aspen’s macro-driven investment philosophy, how the firm evolved from distressed mortgage notes after the Great Financial Crisis into a multi-asset platform, and why focusing on tailwinds matters more than sticking to a single asset class. The conversation dives deep into the structural shift from co-GP capital raising to compliant fund-of-funds models, the importance of simplifying backend infrastructure for promoters, and why recurring cash-flowing products can unlock true scalability for capital raisers. Ben also shares where he sees the independent capital aggregator model heading as private market demand accelerates. Guest InfoBen FraserCurrent role: Managing Director & Chief Investment Officer, Aspen FundsBased in: United StatesSay hi to them at: https://aspenfunds.us | Invest Like a Billionaire Book your free demo today at bill.com/bestever and get a $100 Amazon gift card. Visit ⁠www.tribevestisc.com⁠ for more info. Try QUO for free PLUS get 20% off your first 6 months when you go to quo.com/BESTEVER  Join the Best Ever Community  The Best Ever Community is live and growing - and we want serious commercial real estate investors like you inside. It’s free to join, but you must apply and meet the criteria.  Connect with top operators, LPs, GPs, and more, get real insights, and be part of a curated network built to help you grow. Apply now at⁠ ⁠⁠⁠www.bestevercommunity.com⁠⁠ Podcast production done by⁠ ⁠Outlier Audio⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices