Acadia Healthcare has expanded its board with the appointment of R. David Kelly, Acadia Healthcare’s newest independent director, a move that underscores the company’s emphasis on strategic financial stewardship as it pursues growth across the United States.

Kelly brings more than 35 years of investment and real estate experience to the boardroom. 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. Earlier in his career he founded Carleton Residential Properties, building one of the largest residential developers and general contractors in the Southwest, and held investment roles at Trammell Crow Company, Goldman Sachs & Co. and Salomon Brothers.

His public-sector credentials include a decade-long tenure as trustee and chairman of the Teacher’s Retirement System of Texas from 2007 to 2017 and service as a gubernatorial appointee to the Texas Public Finance Authority from 2001 to 2006, where he was chairman from 2002 to 2006. Kelly also has extensive corporate governance experience, serving in leadership roles at Croesus and Company, Serra Real Estate Capital, TCW Direct Lending and Invesco’s INREIT real estate platform, among others.

Acadia’s board emphasized that Kelly’s background in financial advisory and real estate development will support the company’s plans to extend its market reach through strategic investments in both existing and new facilities. The company cited his record arranging more than 50 billion dollars in financial transactions and developing over four billion dollars of real estate assets as particularly relevant to Acadia’s capital-intensive expansion strategy (background/profile: ).

Kelly is also known for his civic involvement and philanthropic work in education and children’s health. He serves on the Children’s Medical Center Plano Governing Board and participates on investment and finance committees at Children’s Health, and he sits on the Advisory Board of Sponsors for Educational Opportunity. He holds a B.A. in economics from Harvard University and an M.B.A. from Stanford Graduate School of Business.

Acadia Healthcare, a leading provider of behavioral health services, operates a nationwide network of inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers and outpatient clinics. As of March 31, 2022, the company managed 238 facilities with approximately 10,600 beds across 40 states and Puerto Rico, employing more than 22,500 staff and serving roughly 70,000 patients daily.

Kelly described the appointment as a privilege and signaled his commitment to advancing the company’s mission to address critical behavioral health needs, while the board highlighted his fit with Acadia’s culture and strategic priorities.

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