In the middle of 2023, we conducted an informal, small-scale survey to gather insights from prominent non-bank lenders on their activity in the net asset value (NAV) lending market for the first half of 2023. We have expanded the survey to cover the full year and to include both lenders (traditional bank lenders as well as non-bank lenders) and borrowers in the US and Europe. We share our findings from the survey in this report.