Early Life and Education
David J. Adelman was born on March 11, 1972, to a Jewish family in Penn Valley, Pennsylvania. His grandfather was a Holocaust survivor, influencing his upbringing. Adelman's entrepreneurial spirit emerged early. At age 13, he invested $2,000 from his Bar Mitzvah money in off-campus student housing with the guidance of Alan Horwitz, the founder of Campus Apartments, who served as his mentor. Adelman purchased his first investment property at age 17. He earned a degree in Political Science from Ohio State University in 1994.
Rise to Success
Adelman's career advanced significantly when he became the CEO of Campus Apartments in 1997 at age 25, succeeding his mentor Alan Horwitz. Under his leadership, Campus Apartments expanded, amassing over $2 billion in assets across 18 states. In 2007, he co-founded FS Investments, a firm managing $35 billion. Adelman's diverse investments include ventures through his family office, Darco Capital, and a 7% stake in Harris Blitzer Sports & Entertainment, the owner of the Philadelphia 76ers and New Jersey Devils. He is also spearheading the project to build a new arena for the 76ers, projected to cost $1.3 billion.
Key Business Strategies
Adelman's strategic acumen drove Campus Apartments' success by redefining the college living experience and forming partnerships with colleges and universities. He has a knack for structuring deals and securing capital from global investors. Adelman has made over 90 venture capital and growth capital investments through Darco Capital across different sectors, including technology, food, spirits, and consumer brands. A key strategy has been to identify niche markets, as shown by his early focus on student housing.
Philanthropy
Adelman is committed to community and philanthropy, supporting Jewish organizations. He has been involved in the Jewish Federation of Greater Philadelphia, including serving as its Co-Chairman. He also supports the Philadelphia Holocaust Remembrance Foundation. He is an active member of Har Zion Temple in Penn Valley. Adelman has also served as a lead donor to the Alan Horwitz 'Sixth Man' Center operated by Philadelphia Youth Basketball.