Public-private partnerships (P3s) have become an increasingly important means of procuring public infrastructure in Canada. Yet they remain controversial. In light of continued opposition to P3s, several P3 agencies and procurement authorities asked The Conference Board of Canada to carry out an assessment of the benefits and drawbacks of P3s. This report presents the results of that assessment, which tracks the performance of P3 projects that reached financial close in 2004 or later under the auspices of provincial P3 agencies or offices. The report concludes that, relative to conventional procurement, these P3s have delivered efficiency gains as well as a high degree of cost and time certainty from financial close through to completion of construction.