This paper studies the impact of a large-scale conditional cash-transfer programme (Juntos) in Peru. Given that the programme was implemented in 2005, there are only a few existing evaluations of the programme. Using the Young Lives dataset, we analyse the targeting efficiency of the programme, as well as its impact across a range of indicators reflecting child well-being. We find that the targeting mechanism seems to be working as intended, with poorer households getting preference. Also, the programme seems to have a significant impact on reducing the incidence of child labour. Although we do not find evidence in favour of programme participation increasing school enrolment by itself, this is most likely due to a large number of children from the participating households already being enrolled in schools before the intervention. Finally, we do not find a significant impact of the programme on child health indicators such as bmi-for-age and height-for-age z-scores. We believe this is most likely due to the age of the children in the available dataset. We might find different results if the same analysis is conducted on a set of younger children; a dataset that is unfortunately currently not available.