Targeted α-particle emitters hold great promise as therapeutics for micrometastatic disease. Because of their high energy deposition and short range, tumor targeted α-particles can result in high cancercell killing with minimal normal-tissue irradiation. Actinium-225 is a potential generator for α-particle therapy: it decays with a 10-day half-life and generates three α-particle emitting daughters. Retention of 225 Ac daughters at the target increases efficacy; escape and distribution throughout the body increases toxicity. During circulation, molecular carriers conjugated to 225 Ac cannot retain any of the daughters. We previously proposed liposomal encapsulation of 225 Ac to retain the daughters, whose retention was shown to be liposome-size dependent. However, daughter retention was lower than expected: 22% of theoretical maximum decreasing to 14%, partially due to binding of 225 Ac to the phospholipid membrane. In this study, MUltiVEsicular Liposomes (MUVELs) composed of different phospholipids were developed to increase daughter retention. MUVELs are large liposomes with entrapped smaller lipid-vesicles containing 225 Ac. PEGylated MUVELs stably retained over time 98% of encapsulated 225 Ac. Retention of 213 Bi, the last daughter, was 31% of the theoretical maximum retention of 213 Bi for the liposome sizes studied. MUVELs were conjugated to an anti-HER2/neu antibody (immunolabeled MUVELs), and were evaluated in vitro with SKOV3-NMP2 ovarian cancer cells, exhibiting significant cellular internalization (83%). This work demonstrates that immunolabeled MUVELs could be able to deliver higher fractions of generated α-particles per targeted 225 Ac compared to the relative fractions of α-particles delivered by 225 Ac-labeled molecular carriers.