For the development of pH‐sensitive surfactants to be used in water‐in‐oil fermentation, the free‐radical terpolymerization of methacrylic acid (MAA), methoxy poly(ethylene glycol) methacrylate (MPEGMA), and lauryl methacrylate (LMA), at a molar ratio of 1.0:0.04:0.76, was studied with two initiators, azobisisobutyronitrile (AIBN) and hydrogen peroxide, at different concentrations. The polymer synthesized with 0.45% AIBN as the initiator was the most promising, giving similar conversions of all three monomers throughout the 10‐h polymerization. The subsequent study on AIBN‐initiated systems indicated that MPEGMA caused an increase‐then‐decrease profile of the MAA conversion with a plateau around an ethylene glycol/MAA ratio of 1–2. This observation was fairly consistent with the well‐known type II template polymerization of poly(ethylene glycol) (PEG)–MAA systems. The reactivity ratios obtained in this study suggested that the polymer synthesized with AIBN as the initiator had a structure of alternating blocks of MAA and LMA, with isolated PEG grafts. © 2004 Wiley Periodicals, Inc. J Polym Sci Part A: Polym Chem 42: 2950–2959, 2004