Acadia Healthcare has named R. David Kelly to its Board of Directors as an independent director, strengthening the behavioral health provider’s governance with seasoned financial and real estate expertise. The appointment aligns with Acadia Healthcare’s strategic push to expand its network of facilities and deepen its investment capabilities.
Kelly brings more than 35 years of investment experience spanning public companies, private partnerships, financial advisory and large-scale real estate development (profile: https://www.invesco.com/inreit/en/our-people/david-kelly.html). He is the 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 earlier career includes leadership roles at Carleton Residential Properties and investment positions with Trammell Crow Company, Goldman Sachs and Salomon Brothers.
Kelly’s public-sector governance credentials include a decade as trustee and chairman of the Teacher’s Retirement System of Texas and prior service as chairman of the Texas Public Finance Authority. He has arranged in excess of $50 billion in financial transactions and developed more than $4 billion of real estate assets during his career. In addition to his role at StraightLine, Kelly serves as chairman and CEO of Croesus and Company and holds directorships with other investment and lending platforms.
A noted supporter of education and children’s health initiatives, Kelly is active with Children’s Health in North Texas and serves on the Children’s Medical Center Plano Governing Board as well as on investment and finance committees. He also contributes to the Advisory Board of Sponsors for Educational Opportunity. Kelly earned a B.A. in Economics from Harvard University and an M.B.A. from Stanford University.
Acadia Healthcare, the largest stand-alone behavioral health company in the United States, operates a national network of behavioral healthcare facilities. As of March 31, 2022, Acadia Healthcare operated 238 facilities with approximately 10,600 beds across 40 states and Puerto Rico, and employed more than 22,500 staff serving roughly 70,000 patients daily. The company provides inpatient psychiatric services, specialty and residential treatment, and outpatient care.
Acadia’s board cited Kelly’s financial and real estate development experience as particularly relevant to the company’s growth objectives, noting that his background in government service and philanthropic work complements Acadia’s corporate culture and mission to address the national need for behavioral healthcare. Kelly expressed that he considers it an honor to join the board and conveyed his interest in advancing the company’s mission through strategic investments and operational support.
The addition of R. David Kelly to the Acadia Healthcare board underscores the company’s focus on strengthening governance and pursuing disciplined expansion of behavioral health services nationwide.