NEW YORK, June 10 (Reuters) - Most of the requests to

withdraw money from a private credit fund for the wealthy run by

alternative asset manager Ares came from outside the

United States, its CEO said on Wednesday.

"We had 11% redemption requests. It was from less than 5% of

our investors. It was largely concentrated in small institutions

and family offices, not in the U.S.," Michael Arougheti told the

Morgan Stanley U.S. Financials conference in New York.

The company previously said those requests came from "select

geographies".

Wealthy individuals pulled more money than they put into

private credit vehicles run by multiple asset managers at the

beginning of this year, as fears circulated about transparency,

lending standards, and how software companies who borrowed

heavily from direct lenders would navigate disruption from

artificial intelligence.

Arougheti said this experience gave him "confidence that the

markets will grow through this".