This chapter analyses the evolving dynamics of cultural policy and governance, focusing on the role of Public–Private-Partnerships (PPPs) as alternative financing mechanisms for the cultural sector. Although PPPs are not new, the progressive reduction of direct intervention across various sectors in Western governments has led to the introduction of special arrangements to stimulate private sector involvement, especially in cultural governance. The chapter examines the transformations that have led to the introduction PPPs. It illustrates the legislative and administrative frameworks supporting PPPs, focusing on two specific cases: Italy and Brazil. The case studies illustrate how these alternative governance models have been implemented through the introduction of ad hoc legislation to address the financial and operational challenges faced by cultural institutions. The objective of this work is to critically demonstrate the potential of PPPs as a viable alternative to traditional public funding to address the growing financial needs of cultural institutions.