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BofA-Merrill credit prop chief plots fund


Srinivas Dhulipala is targeting a $500 million launch for Kildonan.

Srinivas "Srini" Dhulipala, co-head of credit investing on Bank of America Merrill Lynch’s proprietary trading desk since 2006, is hoping to raise $500 million for the third quarter launch of a credit hedge fund, according to people familiar with his thinking. His new firm will tentatively take the name Kildonan, which may refer to a small town Scotland.

Dhulipala is co-head of proprietary credit trading with Steve Padovano, but the prop desk is set to close soon as part of the bank’s efforts to comply with the Dodd-Frank Act’s Volcker rule, which prohibits the practice of banks betting their