The aim of the present study was to investigate the relationships between the three dimensions of transactive memory (coordination, credibility, and specialization) and performance of collaborating students. A total of 113 students, distributed into groups of two or three, participated in the study. They were required to complete a series of learning tasks during the semester and to write a joint report for each task to be evaluated by their instructors. Afterwards, they were asked to fill out a questionnaire including self-report measures of transactive memory. The results showed a well-established positive relationship between transactive memory and performance based essentially on coordination; also, performance improved linearly as members developed specializations within groups. Implications for future research in collaborative learning are discussed.