Reflections from the Beacon Forum

by: Hazel Hennessy

On Wednesday, February 11^th I attended the Beacon Forum in London, a gathering that brought together philanthropists, family offices, impact investors, government representatives and intermediaries to explore the future of philanthropy and the impact economy. For Philanthropy Ireland members, there were several themes that feel highly relevant to our own community: the growth of collaborative and pooled funds, the increasingly central role of family offices, and a deliberate shift in language and policy toward an “impact economy” that connects all sectors in driving social impact. 

Joining the dots: the impact economy 

An insightful contribution came from the Rt Hon Darren Jones, Minister for Intergovernmental Relations. He spoke about the UK Government’s Better Future Fund, and referenced the success of the Pride in Place scheme. Importantly, he is leaning into the “impact economy” model articulated by NPC in its recent report, that looks to connect the dots across the social impact sector. 

The impact economy framing feels significant. Moving beyond the term “charity” creates broader levers for engagement across government departments and sectors. Minister Jones described a hub-and-spoke approach to embedding this thinking across Whitehall, creating philanthropy champions in different departments and building buy-in from the centre. It is an intentional attempt to “join the dots” across public policy, private capital and civil society. 

At an impact roundtable chaired by Jonathan Simmons, with contributions from funders, advisers and social enterprises explored the terminology further. Discussions focused on how the impact economy provides a mechanism for funders to see where their capital sits across a wider system. It also gives philanthropists “permission” to engage at different levels- whether through straightforward grantmaking or deeper systems involvement. That flexibility feels particularly useful to Ireland’s maturing philanthropic sector. 

Devolution, place and policy influence 

The second roundtable I attended focused on devolution and regional giving, with placed based philanthropy growing in Ireland it was very useful to hear from lessons learned from the UK sector. The conversation surfaced critical questions: as decision-making moves closer to communities, who now holds power, and where do budgets sit? The UK’s Civil Society Covenant and forthcoming place-based philanthropy work from DCMS signal a recognition that relationships between civil society and government need clearer frameworks. This follows patterns in Ireland where placed based philanthropy is being backed by our own Government.  

There was also a provocative discussion about policy influence. One participant noted how right-wing philanthropy has often achieved policy change through long-term, single-issue focus rather than spreading support thinly. Whether or not one agrees with the politics, the lesson about strategic focus and patience is worth reflecting on in regard to the connection between policy and philanthropy.  

For Ireland, as we consider our own regional development and devolution dynamics, the emphasis on place-based data and relationships with local authorities resonated strongly. 

Family offices: from legacy to design 

The keynote from Sergio Fernandez de Cordova, Executive Chairman of PVBLIC Foundation, was particularly compelling. He spoke about “private capital with public purpose” and the need to move from “leadership by legacy to leadership by design”. 

Family offices, he argued, are uniquely positioned to think long term and to engage with “systems of systems”, including food, nature, capital, space and technology transfer. Rather than building parallel structures, he emphasised strengthening institutional infrastructure and working through multilateral systems. A particular note that resonated which is so important in the Irish space is that “We operate at the speed of trust,” and “transparency enables scale.” 

What struck me most was the shift from philanthropy as a charitable act to philanthropy as long-term systems building. Family offices are increasingly global in outlook and are creating capital structures that balance financial return with community impact. As philanthropic wealth grows in both the UK and Ireland, this integrated approach, bridging private wealth and public infrastructure feels like an important frontier. 

The rise of collaborative and pooled funds 

The breakout on collaborative funding, hosted by Bridie Gladen of The END Fund, reinforced the momentum behind pooled and aggregated capital models. With panelists including Virgin Unite, Rockefeller Advisers and the Freedom Fund, the session highlighted how collaborative funds can act as incubators, hosts and “risk intermediaries”. 

Over the past decade, collaborative funds have grown significantly in response to complex, multinational challenges that require alignment of purpose and values. By combining different financial vehicles and asset classes, mission-driven asset management can extend the reach of philanthropic capital. Trust both in partners and in collective wisdom was cited as a core principle. 

For Philanthropy Ireland members, this trend is particularly relevant. Many donors are weighing the choice between establishing new vehicles or joining existing collaboratives.  

The final panel featuring ‘Modern Philanthropists’ and included Becky Homes who spoke at our 2025 Symposium had a strong takeaway message for aspiring philanthropist- clear, impartial advice and strong peer networks are key enables to strategic philanthropy and are critical in supporting decisions around vehicles, strategy and impact. 

Final reflections 

Across the day, one message was clear: philanthropy is evolving from a conversation about charity to one about development, systems change and economic architecture. Whether through government embracing the impact economy, family offices designing long-term capital strategies, or the growth of pooled funds tackling complex issues, collaboration and alignment are becoming central. 

For Ireland, the opportunity is to continue building the connective tissue; between sectors, between regions and between generations of wealth holders. If we can lean into collaboration, strengthen our institutional infrastructure and support family offices as key ecosystem actors, we will be well placed to shape an impact economy that reflects our own values and ambitions. 

If you have recently attended a relevant event to our philanthropy community, we would love to hear your reflections and showcase them on our website and newsletters. Reach out to ana@philanthropy.ie for more details!