Kirkland Advises Leonard Green on GP-Led Secondary Transaction Backing Fullscript Investment

Kirkland & Ellis advised Leonard Green & Partners, L.P. (LGP) on its role as sole lead investor in a single-asset GP-led secondary transaction to provide a bespoke liquidity solution to existing Snapdragon investors as well as back an additional investment into Fullscript, a leading platform for whole-person healthcare. Private equity firm HGGC and Snapdragon announced the additional investment on May 5, 2025. HGGC, with Snapdragon as a minority investor, originally invested in Fullscript in 2021. This transaction, which was negotiated bilaterally without a financial advisor, is LGP’s second investment executed through its Sage strategy, which invests in single-asset continuation funds in the middle market.

Read the transaction press release

The Kirkland team included investment funds lawyers John Senior, Tarsis Goncalves, Ashley Lee, Nathan Howe and Nicholas Chan.