Preheat oven to 350 degrees. Coat an 8-inch pie pan with the butter.
In a medium saucepan with a tight-fitting lid, place next 5 ingredients (asparagus through black pepper); bring to a slow boil then reduce heat, cover and simmer for 10 minutes or until asparagus is tender. Transfer mixture to a food processor or blender; puree until smooth.
In a medium bowl, combine eggs and light cream. Stir in asparagus mixture. Bake for 30 minutes or until a knife inserted in the center comes out clean.