Mr Byles said: "I have always believed in the value of delivering public services using the disciplines of the private sector and I look forward to developing that principle in my next venture, that will bring together the very best of the private, public and third sectors in a new breed of social investment company.
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"Meanwhile I believe that the Secretary of State and his departmental colleagues will deliver an exciting and much-needed programme of Free Schools and new Academies."
Michael Grabiner, Chairman of the PfS Board said: "Tim Byles has made an outstanding contribution to the delivery of education capital investment in this country, establishing a track record as someone whose core focus is to get the job done. Over the past five years, he has impressed me and the PfS Board with his ability to deliver very challenging tasks in a complex and demanding environment. Tim has shown himself to be an individual of the highest integrity and both I and the Board wish him every success in the future."
Mr Byles will depart Partnerships for Schools on 31 May.
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