Acadia Healthcare has added R. David Kelly to its board of directors, tapping a veteran investor and real estate developer to help guide the behavioral health provider through its next phase of growth.
The appointment brings more than 35 years of investment experience to Acadia Healthcare, where company leaders said Kelly will support strategic investments in existing and new facilities. Kelly is founder and managing partner of StraightLine Realty Partners, an alternative investment platform based in Dallas with holdings across real estate, financial services and venture capital. His prior roles include founder of Carleton Residential Properties and investment positions at Trammell Crow Company, Goldman Sachs and Salomon Brothers.
Kelly’s track record includes arranging more than 50 billion dollars of financial transactions and developing in excess of 4 billion dollars in real estate assets, including substantial public-private partnerships. He also holds multiple corporate governance roles, serving as founder, chairman and CEO of Croesus and Company, lead director at TCW Direct Lending and a director for Invesco’s INREIT platform and other firms.
Public service and institutional governance are a notable part of Kelly’s résumé. From 2007 to 2017 he chaired the Teacher’s Retirement System of Texas, overseeing the largest sustained increase in fund value in the system’s history. He previously served as chair of the Texas Public Finance Authority after being appointed by the governor.
Kelly is active in philanthropy focused on education and children’s health. He serves on the governing board and finance committees of the Children’s Health System of Dallas Plano and on the Advisory Board of Sponsors for Educational Opportunity. He holds a degree in economics from Harvard University and an MBA from Stanford Graduate School of Business.
Acadia Healthcare, the largest stand-alone behavioral health company in the United States, operates a nationwide network of hospitals, specialty treatment centers, residential facilities and outpatient clinics. As of March 31, 2022, the company reported 238 facilities with roughly 10,600 beds across 40 states and Puerto Rico and more than 22,500 employees serving about 70,000 patients daily.
Company leadership indicated that R. David Kelly’s financial and development expertise aligns with Acadia Healthcare’s expansion strategy and will contribute to board oversight as the company continues its market growth.