The synthesis of the novel AlI compound AlCp*Ph (Cp*Ph = C5Me4Ph) is presented. This compound is characterized by 1H, 13C, 27Al NMR spectroscopy, elemental analysis as well as its reactivity towards the α,ω‐diolefin dvds (dvds = tetramethyl‐divinyl‐disiloxane). Also the reactivity of AlCp* towards dvds is investigated and the product [(dvds)(μ2‐AlCp*)2] characterized by NMR spectroscopy, elemental analysis as well as X‐ray crystallography. Furthermore, two new coordination compounds of AlCp* to d10 metal centers are synthesized and characterized. [Pd(AlCp*)4] is obtained by reaction of [(tmeda)PdCl2] with AlCp*, and [Ni(AlCp*)4] is synthesized from [Ni(cod)2] and AlCp* via ligand substitution. Both complexes are spectroscopically and crystallographically characterized. Finally, preliminary results on the coordination of AlCp*Ph to Ni0 and Pd0 centers will be discussed.