The formation of polymer-colloid complexes (PCCs) of hydroxybenzylated polyethylenimines (PEIs) with poly(ethylene glycol-600) monolaurate (PM) in chloroform is established through dielcometric titration, light scattering, and viscometry. The effect of PCC on the PEI reactivity in phosphorylation with 4-nitrophenyl bis(chloromethyl)phosphinate is studied with spectrophotometry. It is found that the character of aggregates and the degree of their influence depend on the PM-to-PEI concentration ratio, polymer structure, and reaction temperature.