The Institute of Philanthropy (IoP) and the Marshall Institute at the London School of Economics and Political Science (LSE) announced a strategic research partnership to explore how global financial hubs can unlock greater philanthropic capital and drive social innovation. The collaboration was unveiled at IoP’s annual private convening of leading foundations, marking a deepening commitment by the “think, fund, do” tank to shape the future of philanthropy—regionally and globally.
“Financial hubs are not just engines of economic growth—they are increasingly becoming laboratories for innovative social finance,” said Lester Huang, Chairman of the Institute of Philanthropy. “This partnership with the Marshall Institute allows us to explore how philanthropy can grow in financial hubs where capital markets,institutional infrastructure, and social ambition converge. We want to understand what levers—policy, incentives, infrastructure—can unlock more giving and more innovation.”
Building on recent findings from IoP’s broader research agenda, this initiative will examine the interplay between policy and practice in financial centres, where concentrated wealth meets growing demand for inclusive impact.
Group photo of Mr Brian San, Secretary-General of the Institute of Philanthropy (frontrow,1st left); Dr Brendan Smith, Executive Director, International Strategy &Partnerships, The London School of Economics and Political Science (front row,1st right); Mr Lester Garson Huang, Chairman of the Institute of Philanthropy (back row,1st left) ; and Professor Larry Kramer, President and Vice Chancellor of The London School of Economics and Political Science (back row, 1st right).
The study will focus on cities such as Abu Dhabi, Hong Kong, London, New York, and Singapore, offering insights into how financial infrastructure, regulation, and incentives intersect with philanthropy. It will be led by Professor Jonathan Roberts and Professor Stephan Chambers from the Marshall Institute at LSE.
For 130 years, LSE has led the world in transformative social science teaching and research. The Marshall Institute, founded in 2015 with a mission to improve the impact and effectiveness of private action for public benefit, has become a global point of reference for the study of philanthropy and social entrepreneurship.
"We are delighted to partner with the Institute of Philanthropy to better understand the vital role that philanthropy plays in solving our most urgent global challenges,” said Professor Larry Kramer, LSE’s President and Vice Chancellor. “Strategic partnerships like this one with IoP strengthen our international network of social science thought leaders and amplify the reach and relevance of our work worldwide."
The study seeks to:
• Advance global understanding of how financial hubs can serve as engines for social investment, innovation, and cross-sector collaboration
• Fill critical knowledge gaps on how financial systems shape philanthropic flows and behaviour
• Generate actionable insights for decision-makers seeking to scale giving in high-capacity markets
• Explore how philanthropy can contribute to the growth, resilience, and competitiveness of financial hubs
With a particular focus on Asian financial centres, the research will explore how philanthropy is evolving in response to rapid wealth creation, demographic shifts, and complex social challenges. These hubs offer unique opportunities to test new models—from blended finance to impact-first ventures—and to transfer policy and practice across jurisdictions.
While interest in Asian philanthropy is growing, there remains a lack of detailed empirical research across the region. This study aims to fill that gap by generating actionable insights and fostering dialogue among global stakeholders. Once completed, the findings will be publicly shared to support ongoing efforts to strengthen philanthropic ecosystems in financial hubs and beyond.
As one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign, the Hong Kong Palace Museum and the Palace Museum, with exclusive sponsorship from the Institute of Philanthropy (IoP), today launched “Heavenly Horses: Masterpieces from the Palace Museum”. Presenting nearly 100 horse‑themed paintings from more than 60 renowned artists, spanning the Yuan dynasty to the 20th century, the exhibition celebrates the horses as an enduring symbol of perseverance, vitality and national spirit in Chinese culture.
Guests tour the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
The exhibition is part of a five-year collaboration between the Palace Museum and IoP to promote Chinese culture and nurture arts-technology talent in Hong Kong and the Chinese Mainland. The aim is to help the younger generation deepen its understanding and appreciation of Chinese culture, while showcasing it in fresh, digital ways. Through interactive experiences with artificial intelligence, lectures and workshops, the exhibition highlights how technology can bring tradition to life. Beyond artistic appreciation, it underscores the strategic role of culture in fostering identity and pride, and in strengthening social cohesion across Hong Kong and the Chinese Mainland.
Officiating guests at the launch ceremony were HKSAR Deputy Financial Secretary, Michael Wong Wai-lun (5th left); Deputy Director General of the Department of Publicity, Cultural and Sports Affairs of the Liaison Office of the Central People’s Government in the HKSAR, Lin Nan (4th right); Executive Deputy Director of the Palace Museum, Lou Wei (5th right); Chairman of The Hong Kong Jockey Club, The Hon Martin Liao (4th left); Deputy Chairman of The Hong Kong Jockey Club and IoP Chairman, Lester Huang (3rd right); Trustee of The Hong Kong Jockey Club Charities Trust and Deputy Chairman of IoP, Ann Kung (2nd right); Chief Executive Officer of The Hong Kong Jockey Club and IoP Director, Winfried Engelbrecht-Bresges (2nd left); Chairman of the Board of Hong Kong Palace Museum, Leo Kung (3rd left); Chief Executive Officer of the West Kowloon Cultural District Authority, Betty Fung (1st left); and Museum Director of the Hong Kong Palace Museum, Dr Louis Ng (1st right).
Officiating guests at the launch ceremony were HKSAR Deputy Financial Secretary Michael Wong Wai-lun; Deputy Director General of the Department of Publicity, Cultural and Sports Affairs of the Liaison Office of the Central People’s Government in the HKSAR, Lin Nan; Executive Deputy Director of the Palace Museum, Lou Wei; Chairman of The Hong Kong Jockey Club, The Hon Martin Liao; Deputy Chairman of The Hong Kong Jockey Club and IoP Chairman, Lester Huang; Trustee of The Hong Kong Jockey Club Charities Trust and Deputy Chairman of IoP, Ann Kung; Chief Executive Officer of The Hong Kong Jockey Club and IoP Director, Winfried Engelbrecht-Bresges; Chairman of the Board of Hong Kong Palace Museum, Leo Kung; Chief Executive Officer of the West Kowloon Cultural District Authority, Betty Fung; and Museum Director of the Hong Kong Palace Museum, Dr Louis Ng.
Guests tour the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
Speaking at the ceremony, Michael Wong, Deputy Financial Secretary of the Government of the HKSAR, expressed his gratitude to the Hong Kong Palace Museum and the Palace Museum for jointly organising this exhibition, bringing nearly 100 precious equine paintings to Hong Kong. “Since its opening in 2022, the Hong Kong Palace Museum has greatly contributed to promoting cultural tourism in Hong Kong, staging more than thirty exhibitions and welcoming over four million visitors to date,” he said. “The museum has become a must-visit destination for many tourists to Hong Kong. It has exerted tremendous international influence in telling the good stories of Hong Kong and the Chinese Mainland, further promoting Chinese culture.”
The exhibition is one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign, presenting nearly 100 horse‑themed paintings spanning the Yuan dynasty to the 20th century.
The Hon Martin Liao, Chairman of The Hong Kong Jockey Club, a founding funder of IoP together with its Charities Trust, said, “The Hong Kong Jockey Club and its Charities Trust established the Institute of Philanthropy as an independent ‘think-fund do’ tank for China, Asia and beyond. In 2024, IoP announced a donation of RMB 371 million to launch a five-year collaboration programme with the Palace Museum to promote the excellence of traditional Chinese culture, and to deepen understanding and recognition of Chinese history and culture among younger generations in Hong Kong and the Chinese Mainland. This exhibition is a key component of the programme and one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign. Featuring a variety of cultural, arts and community initiatives throughout the year, we aim to spread joyful celebration across the city, promote tourism and advance the development of sports, including horse sports.”
The Hon Martin Liao, Chairman of The Hong Kong Jockey Club, delivers a speech at the launch ceremony of the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
Lou Wei, Executive Deputy Director of the Palace Museum, added, “The Palace Museum has long maintained a close partnership with the Hong Kong Palace Museum, collaborating to showcase the finest of Chinese art and culture to both local and international audiences, and to promote cultural exchange and mutual understanding. This exhibition forms an integral part of a five-year collaboration between the Palace Museum and the Institute of Philanthropy, which aims to promote Chinese culture and nurture arts-technology talent. Horses were not only a vital means of travel in ancient times and representations of ceremonial standards, they also served as the foundation of national defence. They stand as a vivid symbol of the Chinese nation’s resilience and unwavering spirit. With a focus on equine motifs, ‘Heavenly Horses’ guides visitors to explore the artistic vision of renowned masters and uncovers the social landscapes, spiritual aspiration, and cultural exchanges of different eras, offering a deeper understanding of the profound richness and refined subtleties of Chinese civilisation.”
Guests tour the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
As part of this collaboration, IoP is advancing a strategy of cultural dissemination that combines digital innovation with traditional heritage. The goal is to nurture a generation that carries a strong sense of national identity while engaging confidently with the world, deepening recognition of Chinese history and culture both locally and globally. Building on this vision, IoP is seeking synergy to inspire innovative ideas to address the needs of Hong Kong and the Chinese Mainland – contributing to wisdom and solutions that promote the development of national and global philanthropy.
The exhibition is one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign, presenting nearly 100 horse‑themed paintings spanning the Yuan dynasty to the 20th century.
The exhibition is part of the Club’s Year of the Horse campaign, which aims to honour the profound partnership between human and horse and to unite the community through thrilling races, international equestrian spectacles and a special series of cultural, sporting and family events. The year-long campaign is a community celebration, a tourist attraction and an opportunity to promote equine and community sports development. Complimentary tickets and free guided tours of the exhibition will be provided to underprivileged groups and students.
