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Jul 19,2017
TPG RE Finance Trust, Inc. Announces Pricing of its Initial Public Offering

NEW YORK, NY — July 19, 2017 — TPG RE Finance Trust, Inc. ("TRTX") today announced the pricing of its initial public offering of 11,000,000 shares of its common stock at $20.00 per share. Shares of TRTX's common stock are expected to begin trading on the New York Stock Exchange on July 20, 2017 under the symbol "TRTX," and the offering is expected to close on July 25, 2017, subject to customary closing conditions. TRTX has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its common stock at the initial public offering price less the underwriting discount.

TRTX intends to use the net proceeds from the offering to originate and acquire commercial mortgage loans and other commercial real estate-related debt instruments consistent with its investment strategy and investment guidelines described in the registration statement, focusing primarily on floating rate first mortgage loans secured by high quality commercial real estate properties undergoing some form of transition and value creation and located in primary and select secondary markets in the U.S.

The offering is being made through an underwriting group led by BofA Merrill Lynch, Citigroup, Goldman Sachs & Co. LLC and Wells Fargo Securities, who are acting as joint book-running managers for the offering. Deutsche Bank Securities, J. P. Morgan, Morgan Stanley and Barclays are acting as additional book-running managers. TPG Capital BD, LLC and JMP Securities are acting as co-managers.

A registration statement on Form S-11, including a prospectus, relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering of these securities may be made only by means of a prospectus. Copies of the prospectus may be obtained by contacting: BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, or by emailing; Citigroup, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, or email:; or Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY 10152, telephone: (800) 326-5897 or email:

About TRTX

TRTX is a commercial real estate finance company that focuses primarily on directly originating, acquiring and managing commercial mortgage loans and other commercial real estate-related debt instruments for its balance sheet. TRTX is externally managed and advised by TPG RE Finance Trust Management, L.P., an affiliate of TPG Global, LLC.

Cautionary Statement Regarding Forward-Looking Statements

The information contained in this press release contains "forward‐looking statements." These forward‐looking statements are subject to various risks and uncertainties, including, without limitation, statements relating to the performance of our investments and our financing needs and arrangements. Forward‐looking statements are generally identifiable by use of forward‐looking terminology such as "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "believe," "could," "project," "predict," "continue" or other similar words or expressions. Forward‐looking statements are based on certain assumptions, discuss future expectations, describe existing or future plans and strategies, contain projections of results of operations, liquidity and/or financial condition or state other forward‐looking information. The ability of TRTX to predict future events or conditions or their impact or the actual effect of existing or future plans or strategies is inherently uncertain. Although we believe that such forward‐looking statements are based on reasonable assumptions, actual results and performance in the future could differ materially from those set forth in or implied by such forward‐looking statements. You are cautioned not to place undue reliance on these forward‐looking statements, which reflect our views only as of the date of this press release. Except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward‐looking statements. We do not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

TPG RE Finance Trust
 Luke Barrett
(415) 743-1550

Jason Chudoba, ICR for TPG RE Finance Trust
(646) 277-1249

Evelyn Infurna, ICR for TPG RE Finance Trust
(212) 405-8500</