TPG Mortgage Investment Trust is acquiring Cherry Hill Mortgage Investment Corp. in a deal that will create a larger non-agency portfolio. Processing ContentThe combined companies will run an investment portfolio of $9 billion, 72% of which will be composed of non-agency residential credit, they said Monday. The cash-and-stock deal by TPG, which trades under the MITT ticker symbol on the New York Stock Exchange, has an implied transaction value of $117.5 million for the Cherry Hill real estate investment trust. MITT is managed by AG REIT Management, itself an affiliate of the alternative asset management giant TPG. Cherry Hill, in its own earnings report Monday, reported $1.3 million in net income applicable to common stockholders for the recent period.