Bain Capital, a private equity firm, agreed to acquire the building at 60 Sloane Avenue, in London’s upscale Chelsea district, for $223m. "The losses incurred with respect to the amount spent on the purchase of the building were transferred to the reserve of the Secretariat of State, without in any way affecting Peter's Pence, and with it the donations of the faithful. In order to ensure the transparency and independence of the valuation process, the Holy See sought the assistance of the real estate broker Savills, selected at the end of a tender procedure launched in January 2021 under the supervision of real estate advisors," Administration of the Patrimony of the Apostolic See.