R. David Kelly Brings Multiple Board Leadership Roles to Acadia Healthcare Governance

R. David Kelly serves as independent director at Acadia Healthcare alongside numerous other board positions spanning financial services, real estate investment, and homebuilding sectors. His appointment to the behavioral health provider’s board in June 2022 added a director with active governance experience across multiple industries, bringing cross-sector perspective to healthcare company oversight.

Kelly holds lead director positions at TCW Direct Lending and Invesco’s INREIT real estate platform, alongside serving as at-large director of Ashton Woods Homes. These concurrent roles keep him current on capital markets conditions, real estate investment trends, and residential construction dynamics. Acadia Healthcare operates 260 facilities requiring ongoing capital investment, making board members with active financial markets experience valuable for strategic guidance on funding sources and capital structure optimization.

His lead director role at TCW Direct Lending provides exposure to private credit markets, an increasingly important funding source for middle-market companies. Direct lending platforms offer alternative financing to traditional bank loans, relevant knowledge as healthcare providers explore diverse capital sources for expansion. Kelly’s involvement with Invesco’s real estate investment trust adds perspective on institutional real estate investment, applicable to Acadia Healthcare’s property portfolio management.

Board service at Ashton Woods Homes, a residential homebuilder, connects Kelly to construction management, development timelines, and building cost trends. These operational realities transfer to behavioral healthcare facility development, where construction delays or cost overruns affect opening timelines for new hospitals and treatment centers. His residential development background from founding Carleton Residential Properties complements this ongoing homebuilding governance experience.

Kelly also serves as founder, chairman, and CEO of Croesus and Company, managing director and co-founder of Serra Real Estate Capital, and holds advisory positions with international investment firms. This diverse portfolio of professional roles demonstrates ability to manage competing time demands while maintaining governance effectiveness across multiple organizations—an essential skill for directors serving on several boards simultaneously.

Acadia Healthcare benefits from Kelly’s exposure to different governance models, compensation structures, and board practices across industries. Directors who serve multiple organizations bring best practices from other sectors, helping healthcare companies adopt effective governance approaches developed in financial services or real estate investment contexts. His concurrent positions position him to identify emerging trends affecting capital allocation, property development, or financial reporting that may impact behavioral health providers.