Around the world, public–private partnerships have become increasingly popular to deliver large-scale transportation infrastructure projects such as roads, bridges, railways, subways, seaports and airports. The aim of this article is to provide a framework to understand the global geography of projects built through this market-driven procurement model, which have been predominantly concentrated in a small number of developed countries and emerging markets. As is shown, within many countries, a governance and regulatory environment has been established that supports public–private partnerships over other alternative procurement approaches. Nevertheless, the production of public–private partnerships worldwide has been dominated by a relatively small number of highly globalized construction contractors, engineering firms, financiers, accountancies and consultants from developed countries, who have focused their activities in a narrow set of regions. The article concludes by reflecting on the implications of the high level of industry concentration, and emerging trends showing greater involvement from firms from developing countries.