In a large saucepan, bring salted water to a boil. Add asparagus and boil until tender, about 3 minutes. Remove with tongs, and immediately transfer to ice water for 1 minute to stop the cooking process. Set aside to cool.
Preheat oven to 400 degrees Fahrenheit. Line a baking sheet with parchment paper.
In a large skillet over medium heat, cook bacon thoroughly, but not yet crisp. Remove from pan and drain on a paper towel lined plate.
In a small bowl, combine cream cheese with garlic, salt and pepper. Stir to combine.
Spread about 1/2 tablespoon cream cheese onto each strip of bacon.
Cut asparagus spears in half, and place 2 pieces in the center of each strip, then roll up until bacon ends meet.
Place on baking sheet and bake 5 minutes, or until bacon is crisp and cream cheese is warmed through. Serve immediately.