LIMITED POWER OF ATTORNEY FOR
                        SECTION 16 REPORTING PURPOSES

        Know all by these presents, that the undersigned hereby makes,
constitutes and appoints each of Rocco DelGuercio, Michael C. Mauer and
Christopher E. Jansen, acting individually, as the undersigned's true and
lawful attorney-in-fact, with full power and authority as hereinafter described
on behalf of and in the name, place and stead of the undersigned to:

              (1)    execute for, and on behalf of, the undersigned, in the
undersigned's capacity as a trustee of Investcorp US Institutional Private
Credit Fund (the "Fund"), Forms 3, 4, and 5 relating to the Fund in accordance
with Section 16(a) of the Securities Exchange Act of 1934 and the rules and
regulations promulgated thereunder (the "Exchange Act");

              (2)    seek or obtain, as the undersigned's representative and on
the undersigned's behalf, information on transactions in the Fund's securities
from any third party, including brokers, employee benefit plan administrators
and managers, and the undersigned hereby authorizes any such person to release
any such information to any attorney-in-fact and further approves and ratifies
any such release of information;

              (3)    do and perform any and all acts for and on behalf of the
undersigned that may be necessary or desirable to prepare, complete and execute
any such Form 3, 4 or 5, and any amendments thereto, or other required report
and timely file such Forms or reports with the United States Securities and
Exchange Commission, including without limitation, completing and filing an
application for EDGAR codes (i.e., CIK and CCC codes); and

              (4)    take any other action of any type whatsoever in connection
with the foregoing which, in the opinion of such attorney-in-fact, may be of
benefit to, in the best interest of, or legally required by, the undersigned,
it being understood that the documents executed by such attorney-in-fact on
behalf of the undersigned pursuant to this Limited Power of Attorney shall be
in such form and shall contain such terms and conditions as such attorney-in-
fact may approve in such attorney-in-fact's sole discretion.

        The undersigned hereby gives and grants to each such attorney-in-fact
full power and authority to do and perform any and every act and thing
whatsoever requisite, necessary, or proper to be done in the exercise of any of
the rights and powers herein granted, as fully to all intents and purposes as
the undersigned might or could do if personally present, with full power of
substitution or revocation, hereby ratifying and confirming all that such
attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall
lawfully do or cause to be done by virtue of this power of attorney and the
rights and powers herein granted.

        The undersigned hereby acknowledges that (a) the foregoing attorneys-
in-fact are serving in such capacity at the request of the undersigned; (b)
this Limited Power of Attorney authorizes, but does not require, each such
attorney-in-fact to act in his or her discretion on information provided to
such attorney-in-fact without independent verification of such information; (c)
any documents prepared and/or executed by any attorney-in-fact on behalf of the
undersigned pursuant to this Limited Power of Attorney shall be in such form
and shall contain such information and disclosure as such attorney-in-fact, in
his or her sole discretion, deems necessary or advisable; (d) neither the Fund
nor any attorney-in-fact assumes (i) any liability for the undersigned's
responsibility to comply with the requirements of the Exchange Act, (ii) any
liability of the undersigned for any failure to comply with such requirements
or (iii) any obligation or liability of the undersigned for profit disgorgement
under Section 16(b) of the Exchange Act; and (e) this Limited Power of Attorney
does not relieve the undersigned from responsibility for compliance with the
undersigned's obligations under the Exchange Act, including, without
limitation, the reporting requirements under Section 16 of the Exchange Act.

        This Limited Power of Attorney shall remain in full force and effect
until the undersigned is no longer required to file Forms 3, 4, and 5 with
respect to the undersigned's holdings of, and transactions in, securities
issued by the Fund, unless earlier revoked as to any attorney-in-fact by the
undersigned in a signed writing delivered to such attorney-in-fact.

        IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney
to be executed as of this 26th day of September, 2022.


                                   Signature:/s/ Julie Persily
                                             -------------------------------
                                        Name:Julie Persily