Investment Expert R. David Kelly Joins Acadia Healthcare Board After Three Decades in Financial Services
R. David Kelly has been appointed as an independent director to the board of Acadia Healthcare, the company announced today. The Dallas-based investor brings more than 35 years of investment and governance experience to the behavioral health provider, which trades on NASDAQ under the ticker ACHC.
Kelly is founder and managing partner of StraightLine Realty Partners, an alternative investment platform with holdings across real estate, financial services and venture capital. His earlier career includes founding Carleton Residential Properties, creating one of the largest residential developers and general contractors in the Southwest, and investment roles at Trammell Crow Company, Goldman Sachs & Co. and Salomon Brothers. Over his career, he has arranged more than $50 billion in financial transactions and developed over $4 billion in real estate assets, including significant public-private partnerships.
His public-sector and fiduciary experience is substantial. From 2007 to 2017 Kelly served as trustee and chairman of the Teacher’s Retirement System of Texas, overseeing the fund through a period of notable growth. He was a gubernatorial appointee to the Texas Public Finance Authority from 2001 to 2006 and served as its chairman from 2002 to 2006. Kelly also holds leadership roles across financial and real estate platforms, including Croesus and Company, Serra Real Estate Capital, TCW Direct Lending and Invesco’s INREIT platform.
Acadia Healthcare is a leading provider of behavioral healthcare services in the United States, operating a nationwide network of inpatient hospitals, specialty treatment centers, residential facilities and outpatient clinics. As of March 31, 2022, the company reported 238 facilities with approximately 10,600 beds across 40 states and Puerto Rico, more than 22,500 employees and roughly 70,000 patients served daily.
Company leadership said Kelly’s background in strategic investments, financial advisory and real estate development will support Acadia Healthcare as it pursues facility expansion and market growth. Board members highlighted his track record in governance and public finance as complementary to the company’s long-term plan for capital deployment and operational scale.
Kelly has also been active in philanthropy and civic engagement, particularly in children’s health and education. He serves on the governing board and finance committees at Children’s Medical Center Plano and participates on the advisory board of Sponsors for Educational Opportunity. He holds a B.A. in economics from Harvard University, where he was a John Harvard Scholar, and an MBA from Stanford Graduate School of Business.
Analysts say the addition of a director with Kelly’s transactional experience and public-sector background may help Acadia Healthcare navigate complex capital projects and regulatory environments as the company continues its national expansion.