<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-01-25</periodOfReport>

    <issuer>
        <issuerCik>0001630472</issuerCik>
        <issuerName>TPG RE Finance Trust, Inc.</issuerName>
        <issuerTradingSymbol>TRTX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001711880</rptOwnerCik>
            <rptOwnerName>Gillmore Michael</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O TPG RE FINANCE TRUST, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>888 SEVENTH AVENUE, 35TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10106</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2024-01-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1073</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>6.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>61186</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Explanation of Responses</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares of common stock (&quot;Common Stock&quot;) of TPG RE Finance Trust, Inc. (the &quot;Issuer&quot;) underlying deferred stock units (&quot;DSUs&quot;) issued to Mr. Michael Gillmore in lieu of dividends payable on DSUs owned by Mr. Gillmore.  The number of DSUs was calculated by dividing (i) the product of the number of DSUs owned by Mr. Gillmore that provide for the issuance of DSUs in lieu of cash dividends and the $0.24 per share dollar amount of the Common Stock dividend paid by the Issuer on January 25, 2024 by (ii) the closing price of the Issuer's Common Stock as of the record date for the Common Stock dividend paid by the Issuer on January 25, 2024.</footnote>
        <footnote id="F2">Held through a personal trust.</footnote>
    </footnotes>

    <remarks>(3)	Matthew Coleman is signing on behalf of Mr. Gillmore pursuant to the power of attorney dated June 26, 2017, which was previously filed with the Securities and Exchange Commission.</remarks>

    <ownerSignature>
        <signatureName>/s/ Matthew Coleman, **By: Matthew Coleman, on behalf of Michael Gillmore (3)</signatureName>
        <signatureDate>2024-01-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
