Worldwide, but particularly in Latin America, private protected areas (PPAs), including in mountain areas, have become increasingly numerous. In some Latin American countries, PPAs complement the public protected areas to a significant degree. Beneficiaries of these private protection initiatives, which often close gaps in fragmented biomes, may be governments or eco-tourism operators. Drawbacks of PPAs are the lack of clear definitions and ownership, the absence of suitable management, green grabbing, and limited government support. This article gives an overview of PPAs in mountain regions and presents the most important literature published so far.