The Tate was able to buy the painting with a grant from the Art Fund.
The Art Fund also announced its plans to develop and expand its funding programme.
Jean-Rene Saillard works in Geneva for the British Fine Art Fund, an investment group devoted to buying art.
The installation, "Discovering Columbus, " has been produced by the Public Art Fund, a nonprofit championed by Mayor Michael Bloomberg.
WSJ: Discovering Columbus | A Monumental Problem | By James Panero
The rest of the money came from the Heritage Lottery Fund, the Art Fund and individual donors and trusts.
Stephen Deuchar, director of the Art Fund, said following Bromley Council's claim "Tower Hamlets's cavalier plans" must be halted.
BBC: Bromley Council disputes Henry Moore sculpture ownership
However, the Tower Hamlets borough council issued a statement on Thursday describing the Art Fund's move as a "desperate PR stunt".
BBC: Henry Moore sculpture sale faces Art Fund legal challenge
Sir Denis made the arrangement for his bequest via the Art Fund charity, with specific instructions on where the works should be displayed.
The portrait was given to the gallery by Sir Hugh Leggatt in memory of Sir Denis Mahon, with support from the Art Fund.
Filatov wants to collect up to 12 new artworks a year, primarily from the period 1917 to 1991, for the Filatov Family Art Fund.
The group is made up of several organisations such as The Northamptonshire Ancient Egyptian Society, Art Fund Northamptonshire and The Friends of Northampton Museums and Art Gallery.
BBC: Egyptian statue sale: Action group set-up in opposition
However, the sale could be delayed as solicitors on behalf of the Art Fund have written to the mayor with a legal challenge over who owns "Old Flo".
BBC: Henry Moore sculpture sale faces Art Fund legal challenge
The Art Fund also relaunched its membership card - which will now be known as the National Art Pass - offering free or discount admission to more than 200 museums and galleries.
Philip Hoffman, who used to work for Christie's and last year founded the Fine Art Fund, says that more than 80% of its purchases are made directly from owners and attract no commission.
The site, Last Lot, is a short-term donation to Art Production Fund from The Shubert Organization, and is part of the Times Square Alliance initiative to bring art to Times Square.
Obama, who mastered the art of Internet fund-raising during the presidential campaign, has said technology and innovation are priority issues for his administration.
Money raised from the exhibition, which is sponsored by David Bowie's company Bowieart, goes towards the RCA Fine Art Student Award Fund, which helps support emerging student artists.
The fund buys art ranging from the 16th to the 21st Century.
Rather than compete with his peers for trendy new art, hedge-fund manager Michael Steinhardt and his wife, Judy, are building several collections around comparatively obscure niches like ancient Peruvian feather ponchos, Cycladic stone figures and 15th-century rugs.
But the most intriguing force behind the campaign's pace lies in the way technology has changed the art and practice of both campaigning and fund-raising.
For all these reasons fund raisers are learning the delicate art of going through a woman's purse.
Dedicated to offering the public "powerful experiences with art and the urban environment, " the fund's other projects have included bringing Jeff Koons's topiary-puppy sculpture to Rockefeller Center and Rob Pruitt's statue of Andy Warhol to Union Square.
WSJ: Discovering Columbus | A Monumental Problem | By James Panero
Divorced two years ago, recently helped fund his girlfriend Dasha Zhukova's art gallery.
They started a Facebook page for the fund, filled with Lulu's art and photos of the smiling little girl and her brother.
Unlike the low trading costs for a stock index fund, the adjusted returns of an art index would be meaningfully lower in an art index if these costs were accounted for.
When he proposed to fully fund an annex to the Metropolitan Museum of Art, certain activists raised a ruckus.
Johnson bought most of his art in 1998, when he learned that a significant body of work, the Barnett-Aden collection, was for sale by the Florida Education Fund, along with the building where the art was housed, the National Museum of African American Art, in Tampa.
Fine-art insurers such as AIG, Chubb and Fireman's Fund keep a list of appraisers they have vetted.
WSJ: Hurricane Sandy May Lead More Art Collectors to Seek Additional Insurance Coverage
Councillor Matt Deegan, executive member for community regeneration for Wokingham Borough Council, said the sale would help fund a new state-of-the-art secondary school planned for the Arborfield Garrison site five miles away.
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