Acadia Healthcare has appointed R. David Kelly as an independent director to its board, adding a seasoned investor to support the behavioral health provider’s national expansion. The company said the move strengthens governance as Acadia executes strategic investments in new and existing facilities.
The announcement listed R. David Kelly, Acadia Healthcare among its leadership updates and highlighted his more than 35 years of experience in investment, real estate development and financial advisory. 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 earlier roles include founding 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 in financial transactions and developing over $4 billion in real estate assets, including in excess of $500 million in public-private partnerships. He also holds leadership roles across several firms, serving as founder, chairman and CEO of Croesus and Company, managing director and co-founder of Serra Real Estate Capital, lead director at TCW Direct Lending and a director on Invesco’s INREIT platform and Ashton Woods Homes.
Public service and governance experience figure prominently in Kelly’s résumé. From 2007 to 2017 he served as trustee and chairman of the Teacher’s Retirement System of Texas, and from 2001 to 2006 he was a gubernatorial appointee and chair of the Texas Public Finance Authority. Those roles complemented corporate board work and strategic planning across multiple sectors.
Philanthropy and community engagement are part of Kelly’s profile. He contributes to children’s health initiatives and education programs, including roles on the Children’s Medical Center Plano Governing Board and investment and finance committees at Children’s Health, and participation on the Advisory Board of Sponsors for Educational Opportunity.
Acadia Healthcare, the largest stand-alone behavioral health company in the U.S., operates more than 230 facilities and roughly 10,600 beds across 40 states and Puerto Rico, employing over 22,500 people and serving tens of thousands of patients daily. Kelly’s appointment is positioned as a governance and capital allocation asset as Acadia pursues growth in behavioral health services nationwide.