“…Rhodium hydrosols, dissolved in water, were shown to be effective as hydrogenation catalysts in two‐phase systems, where the olefin formed the organic phase 185. Aqueous solutions of Moiseev’s giant Pd colloids [Figure 5, a)]73−78 were shown to catalyze a number of reactions in the “quasi‐homogeneous” phase, namely oxidative acetoxylation reactions,73 the oxidative carbonylation of phenol to diphenyl carbonate,186 the hydrogen‐transfer reduction of multiple bonds by formic acid,187 the reduction of nitriles and nitroarenes, and acetal formation,188 all with high turnover frequencies and significant lifetimes (see ref 11…”