Fund Finance Briefs: Rubenstein's Manna Tree Gets Subscription Credit Line from JPMorgan
Marathon arranges credit line for asset-based lending fund
Manna Tree Partners LLC, a private equity firm cofounded by Gabrielle Rubenstein, the daughter of David Rubenstein, obtained a subscription credit line from JPMorgan Chase Bank for its latest investment fund.
Manna Tree Fund III Cayman LP entered into an uncommitted revolving credit agreement last month with the New York-based bank, according to a regulatory filing. The credit line, dated as of October 9, is backed by all of the capital commitments and contributions that the fund receives from its investors.
Denver-based Manna Tree filed a notice with the Securities and Exchange Commission in March stating it would seek to raise about $250 million for Fund III. The firm, which had about $736 million under management at the end of last year, primarily invests in consumer health and wellness companies, particularly those that focus on nutrition, food, and active lifestyle products and services.
Rubenstein, in founding Manna Tree with Ross Iverson in 2018, is following in her father’s footsteps to some degree. David Rubenstein is a co-founder of Washington, DC-based Carlyle Group Inc., one of the nation’s largest private equity firms.
Manna Tree officials didn’t return a telephone call seeking comment.
Marathon Asset-Based Lending Fund
Marathon Asset Management LP arranged a subscription credit line with U.S. Bank for the Marathon Asset-Based Lending Master Fund IV A LP, according to an October regulatory filing.
The revolving credit agreement, dated October 22, is backed by capital commitments and contributions from the fund’s investors. The fund received its commitments under a limited partnership agreement with investors dated May 2, 2025.
Marathon describes itself as an incumbent in the asset-based lending market, having made more than $30 billion of investments over a period exceeding 20 years. Among other things, the unit invests in loans, royalties, leases and intellectual property, according to its website.