In a large pan over high heat bring water to a boil for the pasta. Heavily salt the water before adding the pasta. Cook the pasta al dente and reserve 1 cup of the water before draining. Drain the pasta and set aside.
Add 2 tbsp olive oil to a pan over medium heat. Add the onion and cook for about 5 minutes until soft. Add the garlic and cook for another minute or two.
Transfer the onion mixture to a food processor. Add in the roasted peppers and basil. Give it a rough chop. Transfer the mixture back to the pan and cook for about 10 minutes.
Add the mascapone cheese and mix well. Add the pasta, salt, and pepper. Add reserved pasta water (if needed). Transfer the pasta to a large serving platter and top with parsley and crumbled bacon.
