The use of public-private partnerships (PPPs) is one of the most distinctive features of strategic management in the public sector. However, PPPs can take many varied forms, and can present quite different managerial and organizational challenges. One of the most significant, yet understudied, forms of PPP to emerge in recent years is the PublicPrivate Joint-Venture (PPJV). Unlike Contractual PPPs, in which public organizations tightly specify the service to be provided under contract by private sector organizations, PPJVs involve the creation of a new institutional entity that is governed by all parties in the alliance. This article examines the distinctive character of PPJVs and draws upon documentary and case study evidence to evaluate the ways in which the mixing of public and private within this important collaborative form can be managed best.