Adds details on the redemptions from filing and background

June 23 (Reuters) - Wall Street banking giant Morgan Stanley MS.N has limited redemptions at one of its private credit funds after investors sought to withdraw almost 11.6% of shares outstanding, a regulatory filing showed on Tuesday.

North Haven Private Income Fund (PIF) said it would meet 43% of second-quarter redemption requests, adding that roughly half of the requests came from investors who had been unable to fully cash out in the first quarter.

Private credit funds geared toward retail investors saw historic outflows in the first quarter, driven by mounting concerns over lending standards and rising fears that AI could undermine the software sector - a key area of exposure for many lenders.

Conditions have yet to stabilize, with funds run by Apollo Global, Blackstone and BlackRock also limiting investor withdrawals.

PIF said that after accounting for new subscriptions and dividend reinvestments, the net hit to its net asset value was approximately $102 million, or 3.2% of its March 31 value.

Separately, a smaller affiliated fund, North Haven Private Income Fund A, faced redemption requests of 7.2% and will honor just 5%.