Heat oil in a saucepan and sauté the first ingredients until carrots are tender.
Chop tomatoes in food processor. Stir tomatoes, tomato paste, parsley and basil in pan. Simmer uncovered over low heat for 15 to 20 minutes while stirring frequently.
Cook tortellini in boiling water for 8 to 10 minutes. Drain. Stir cream and chopped red pepper into tomato sauce. Continue cooking until sauce is reduced and thickened then place the pasta in a large shallow serving dish.
Pour the sauce over pasta. Toss gently and serve hot.