L-Lactide was polymerized as concentrated solution in chlorobenzene with Bi(OAc)(3) as initiator. When tetra(ethylene glycol) was added as co-initiator (Col), telechelic polylactides having two CH-OH end groups were obtained. With 1,1,1-tri(hydroxymethyl)propane (THMP) as co-initiator, three-armed stars having three CH-OH end groups were formed. Analogously, tetrafunctional star-shaped poly(L-lactide)s were obtained with pentaerythritol as co-initiator. The chain lengths were varied via the monomer/CoI ratio. Time-conversion curves proved that Bi(OAc)3 is slightly less reactive as initiator than tin(H) 2-ethylhexanoate. However, bismuth acetate (or other carboxylates) have a particularly low toxicity as documented in the literature and by numerous Bi-3circle times-containing pharmaceutical products.