Ironshore

Ironshore Capital LLC is the investment affiliate that manages assets separately from the insurance underwriting entity. The original specialty insurance company, founded in 2006, was sold to Fosun in 2015 and then to Liberty Mutual in 2017. The founding team — Clements, Kelley, and Blaser — retained or redeployed capital into an investment vehicle that now commits to real estate, infrastructure, and media assets, distinct from the regulated insurance balance sheet.

Seth Klarman's Baupost Group partnered with Ironshore Capital on a $6 billion real estate fund. The partnership targets distressed and opportunistic properties primarily in Florida and the Caribbean, where both firms identify dislocation-based entry points. This alliance grants Ironshore institutional-scale firepower while maintaining the discretion of a tightly-held Bermuda structure.

Ironshore deploys capital through direct real estate acquisitions and project-level investments rather than committing to third-party fund vehicles. The Baupost real estate partnership is structured as a co-investment platform, with Ironshore sourcing and operating the assets alongside Baupost's capital commitment.

Ironshore Studios is a film and television production facility in George Town, Grand Cayman, founded by Jacob Olde. It operates within the Ironshore Group's physical-asset strategy alongside Florida condominiums, El Salvadoran mixed-use developments, and agricultural projects. The studio attracts international productions to the Cayman Islands, diversifying the group's geographic and sector exposure beyond traditional real estate.

Florida represents the core concentration, with holdings in Naples, Jacksonville, and Vero Beach spanning residential, mixed-use, and waterfront subdivisions. The group also owns real estate in El Salvador and has developed the Ironshore Studios and Ironshore Motif sites in Grand Cayman, per property records.