R. David Kelly (MBA '89)
R. David Kelly is founder and managing partner of StraightLine Realty Partners, an investment platform focused on mid-sized investments in value-added real estate, venture capital and small- to-mid-market private equity. He is also a founder, chairman and CEO of Croesus & Company, an international real estate advisory firm with over $500 million in AUM, and chairman of the international financial platform Everglory Group.
Kelly serves the state of Texas as chairman and trustee of the Teacher’s Retirement System of Texas (TRS), the 17th largest pension plan sponsor in the world, with more than 1.4 million members/retirees and nearly $129 billion under management. Mr. Kelly has been trustee to the system since 2007 and chairman since 2009. From 2001 to 2007 Mr. Kelly also served the State of Texas as Chairman of the Texas Public Finance Authority (TPFA), the state’s primary debt issuer, issuing more than $4 billion of securities through secured and unsecured financings on behalf of various agencies and departments of the state.
Prior to StraightLine, Kelly founded and was managing partner of Dallas-based Carleton Residential Properties, a multi-family developer that built more than 12,000 units of luxury, market rate, moderate and affordable apartments throughout the southern and southwestern United States, including U.S. government contracts totaling more than $400 million.
Kelly’s career began managing large capitalization mergers and acquisitions, general corporate finance, and principal investments for Goldman Sachs, Citicorp, and The Trammell Crow Company. He graduated cum laude as a John Harvard Scholar in Economics from Harvard University and holds an MBA from Stanford University Graduate School of Business Administration. He is married with one son and lives with his family in Dallas.