Step 1

Heat 1 tablespoon butter and olive oil in a large pan over medium heat until melted. Stir in bell pepper, onion, and garlic and cook until tender, 2 to 3 minutes. Add rice and stir to coat, 1 to 2 minutes.

Step 2

Pour wine into mixture and stir until absorbed. Add 1 cup of broth, stirring until absorbed. Add 1/2 cup of broth, stirring until absorbed; repeat process of adding 1/2 cup of broth until all is used. Stir in asparagus with the last cup of broth. Stirring in the broth should take 15 to 20 minutes in all. When finished, the rice should be tender yet firm to the bite.

Step 3

Stir in Parmesan cheese, truffle oil, and remaining 2 tablespoons butter. Stir in milk to taste and to desired creaminess. Cover and let stand for 3 to 5 minutes. Serve.