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The focus of this study was to investigate the role of public-private partnerships (PPPs) in education in achieving the goal of equitable access to quality education, by evaluating PPP reforms in Sindh, Pakistan. The Realist Evaluation theoretical framework was employed, applying choice theory and new public management concepts to address the questions, through a mixed methods research design. The data include policy documents, secondary quantitative data sets, and responses gathered from 39 semi-structured interviews with PPP stakeholders. This study’s findings indicate PPPs in education have some advantages over government-run schools—specifically, in better governance of schools through autonomy, and accountability. However, the broader impact of PPP reform still does not clearly result in increased access, quality, and equity.