Two monomeric, six-coordinated magnesium complexes with bulky aminophenolate ligands [(Htbpoa)₂Mg] (1) and [(Htbpca)₂Mg(THF)₂] (2), where Htbpoa = N-[methyl(2-hydroxy-3,5-di-tert-butylphenyl)]-N-methyl-N-methyl-1,3-dioxolaneamine and Htbpca = N-[methyl(2-hydroxy-3,5-di-tert-butylphenyl)]-N-methyl-N-cyclohexylamine have been prepared, characterized and employed as initiators for lactide polymerization. The crystal structure of the homoleptic compound 1 has been determined and shows that the six-coordinate magnesium atom in 1 is surrounded by two tridendate tbpoa ligands. In the solution, however, complex 1 exists in equilibrium with a five-coordinate species 1a having one oxolane fragment dangling. The tbpoa and tbpca ligands in 1 and 2 play a dual role, as the ancillary ligand stabilizing the monomeric magnesium species and as the initiating polymerization group.