This study examines power asymmetries within the largest multi-stakeholder agency in the education sector: the Global Partnership for Education (GPE). Drawing from data collected through key informant interviews and document analyses, this research asks if the establishment of the GPE has altered power arrangements in educational aid. The study finds that in spite of efforts to create a more equitable environment via the GPE, bilateral donors and the World Bank in particular retain their hierarchical positions through the maintenance of structures that reproduce their dominant status, thereby countering the principles that underpin the GPE's mandate.