The presence of a permethylated α-cyclodextrin (α-CD) cavity in a chelating P,N ligand promotes exclusive formation of 1 : 1 ligand/metal complexes. In MX₂ complexes, one of the two halido ligands is forced to reside inside the CD hollow while the second one is pointing outside. Unlike its cavity-free analogue, a Ni(II) complex of the CD ligand is a highly selective precatalyst for ethylene dimerisation (96% C₄ selectivity with up to 95% of 1-butene within the C₄ fraction).