This article compares two transnational public–private partnerships against hunger and malnutrition, the Global Alliance for Improved Nutrition and the International Alliance Against Hunger with regard to their degree of business involvement and their input and output legimacy. We examine the participation of stakeholders, the accountability and transparency of the decision-making process, and the perceived provision of a public good. We identify a link between business involvement and output legitimacy, and we discuss the implications for public and private food governance.