This paper analyzes, based on primary sources, mainly official and institutional documents, and on interviews with municipal managers, the performance of five business groups in municipal basic education systems. It is aimed to identify the outcomes of the adoption of private education systems by Brazilian municipalities for the composition of earmarked revenues spending for education and for the right to education. The research confirms previous studies that indicates the shift of public funds to the private sector, including transnational corporations. © 2016, Centro de Estudos Educacao e Sociedade - CEDES. All rights reserved.37134113131