ASPEN is a registered, non-diversified closed-end tender offer fund. It seeks attractive long-term capital appreciation through a broad portfolio of global private markets investments: at least 80% of net assets in private equity, principally secondary investments and co-investments, with small primary and private credit sleeves and up to 20% in liquid assets. At 8/31/2026 the portfolio was 49% secondary and 48% co-investment by fair value, 77% buyout and 71% North America, with about 1,900 companies through 150 investments. The prospectus sets no allocation ranges, position limits or limits on underlying leverage.