Enables several functions, including histone deacetylase binding activity; peroxisome proliferator activated receptor binding activity; and phosphatidate phosphatase activity. Involved in several processes, including mitochondrial fission; positive regulation of cold-induced thermogenesis; and triglyceride mobilization. Acts upstream of or within several processes, including actin cytoskeleton reorganization; positive regulation of histone deacetylation; and ruffle organization. Located in endoplasmic reticulum; mitochondrial outer membrane; and nuclear membrane. Part of transcription regulator complex. Is expressed in liver; nervous system; olfactory epithelium; and tooth. Used to study lipodystrophy. Orthologous to human LPIN1 (lipin 1). [provided by Alliance of Genome Resources, Apr 2022]