In a novel electron-donor–acceptor conjugate, phthalocyanine (Pc) and perylenediimide (PDI) are connected through a trans-platinum(II) diacetylide linker to yield Pc-Pt-PDI 1. In the ground state, the presence of PtII disrupts the electronic communication between the two electroactive components, as revealed by UV/Vis spectroscopy and electrochemical studies. The photophysical behavior of 1 is compared with that of the corresponding Pc-PDI electron-donor–acceptor conjugate 2 in terms of charge separation and charge recombination. The insertion of PtII between Pc and PDI impacts the results in a longer-lived Pc.+/PDI.− radical ion-pair state. In addition, the intermediately formed Pc triplet excited state is formed with higher quantum yields in 1 than in 2.