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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13D/A 0001193125-24-270177 0001992686 XXXXXXXX LIVE 4 Class I Common Stock, par value $0.01 per share 02/03/2025 false 0001976927 46091W201 Invesco Commercial Real Estate Finance Trust, Inc. 2300 N FIELD STREET SUITE 1200 DALLAS TX 75201 Beth Zayicek 0000000000 1331 Spring Street NW, Suite 2500 Atlanta GA 30309 0001992686 N Invesco Realty, Inc. WC N DE 0 5969284 0 5969284 5969284 N 22.11 CO This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. 0000020430 N Invesco Advisers, Inc. AF N DE 0 6115706 0 6115706 6115706 N 22.65 CO IA This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. 0001993081 N Invesco Group Services, Inc. AF N DE 0 6115706 0 6115706 6115706 N 22.65 CO This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. 0000728889 N OppenheimerFunds, Inc. AF N CO 0 6115706 0 6115706 6115706 N 22.65 CO IA This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. 0000869013 N Oppenheimer Acquisition Corp. AF N DE 0 6115706 0 6115706 6115706 N 22.65 CO This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. Y Invesco Holding Company (US), Inc. AF N DE 0 6115706 0 6115706 6115706 N 22.65 CO This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. 0001464185 N Invesco Holding Company Limited AF N X1 0 6115706 0 6115706 6115706 N 22.65 OO This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. 0000914208 N Invesco Ltd. AF N D0 0 6115706 0 6115706 6115706 N 22.65 IA HC This Schedule 13D relates to the following classes of securities: Class I common stock, par value $0.01 per share with CUSIP No. 46091W201, Class D common stock, par value $0.01 per share with CUSIP No. 46091W409, Class E common stock, par value $0.01 per share with CUSIP No. 46091W300, and Class S common stock, par value $0.01 per share with CUSIP No. 46091W102, of the Issuer. Due to the new Edgar filing requirements, cover pages are limited to one class of security. The cover page of this Schedule 13D filing relate to the Class I common stock, and this comment and notes above shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (1) This Schedule 13D relates to the following classes of securities: Class D common stock, par value $0.01 per share, Class E common stock, par value $0.01 per share, Class I common stock, par value $0.01 per share, and Class S common stock, par value $0.01 per share, of the Issuer. Due to the new Edgar filing requirements, the cover page is unable to list all classes of the Issuer's Common Stock. This comment shall serve as full disclosure of the beneficial ownership of all classes of securities of the Issuer. (2) Based on a total of 27,000,212 shares of Common Stock issued and outstanding. Explanatory Note This Statement constitutes Amendment No. 4 ("Amendment No. 4") to the Omnibus Amendment to Schedule 13D filed with the Securities and Exchange Commission ("SEC") on April 3, 2024, as amended on May 2, 2024, September 4, 2024, and December 3, 2024 (as amended "Omnibus Amendment") by Invesco Realty, Inc. ("Invesco Realty"), Invesco Advisers, Inc. ("IAI"), Invesco Group Services, Inc., OppenheimerFunds, Inc., Oppenheimer Acquisition Corp., Invesco Holding Company (US), Inc., Invesco Holding Company Limited and Invesco Ltd. (collectively, the "Reporting Persons"). The Amendment No. 4 relates to the Reporting Person's beneficial ownership of Class D Stock, Class E Stock, Class I Stock and Class S Stock of the Issuer (collectively, the "Common Stock") and is being filed to report that on February 3, 2025, the Issuer issued 110,485 shares of Class E stock to IAI as payment for the management fee and performance fees under the Amended and Restated Advisory agreement by and among the Issuer, Invesco Commercial Real Estate Finance Investments, LP and IAI. Class I Common Stock, par value $0.01 per share Invesco Commercial Real Estate Finance Trust, Inc. 2300 N FIELD STREET SUITE 1200 DALLAS TX 75201 The information contained in Item 5(a) and (b) of the Omnibus Amendment is hereby amended to read in its entirety as follows: (a) and (b) The responses of each of the Reporting Persons with respect to Rows 11, 12, and 13 of the cover pages of this Schedule 13D that relate to the aggregate number of shares and percentage of Common Stock are incorporated herein by reference. The responses of each of the Reporting Persons with respect to Rows 7, 8, 9, and 10 of the cover pages of this Schedule 13D that relate to the number of shares of Common Stock as to which each of the persons or entities referenced in Item 2 above has sole or shared power to vote or to direct the vote of and sole or shared power to dispose of or to direct the disposition of (including but not limited to footnotes to such information) are incorporated herein by reference. Invesco Realty is the record holder of 5,969,284 shares of Common Stock reported herein. The other Reporting Persons, all of which are parent companies to Invesco Realty, may be deemed to have beneficial ownership of the securities directly held by Invesco Realty. IAI is the record holder of 146,422 shares of Class E Stock reported herein. The other Reporting Persons who are parent companies to IAI may be deemed to have beneficial ownership of the securities directly held by IAI. (c) On February 3, 2025, the Issuer issued an aggregate of 110,485 shares of Class E Common Stock to IAI as payment of the management fee and performance fees under the Amended and Restated Advisory agreement by and among the Issuer, Invesco Commercial Real Estate Finance Investments, LP and IAI. Invesco Realty, Inc. /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 Invesco Advisers, Inc. /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 Invesco Group Services, Inc. /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 OppenheimerFunds, Inc. /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 Oppenheimer Acquisition Corp. /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 Invesco Holding Company (US), Inc. /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 Invesco Holding Company Limited /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 Invesco Ltd. /s/ Tina Carew Tina Carew, Attorney in Fact* 02/05/2025 Pursuant to powers of attorney which are incorporated herein by reference to Exhibits 24.1-Exhibit 24.7 to the Form 4 filed by the Reporting Persons on September 4, 2024 and Exhibit 24.1 to the Form 4 filed by the Reporting Persons on December 3, 2024.