The move in Hammersmith & Fulham, Westminster and Kensington & Chelsea, is part of a Cabinet Office pilot to test out alternative ways to run public services, including setting up staff mutuals.
A tendering process has launched to find a private sector partner to support the mutual.
The three councils hope the mutual model will save more than £1m in the cost of running school support services, such as IT, building development, strategic advice and financial management, over the four years.
Half of any profit made by the mutual will be ploughed back into the three councils’ education budgets. Staff and their private partner will keep the other half.
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