Enables carboxylic ester hydrolase activity; protein kinase binding activity; and serine hydrolase activity. Involved in ether lipid metabolic process and lipid catabolic process. Acts upstream of or within cellular lipid catabolic process and cellular response to cold. Located in cytosol; lipid droplet; and membrane. Is expressed in adipose tissue; ileum; and male reproductive gland or organ. Human ortholog(s) of this gene implicated in arteriosclerosis; familial partial lipodystrophy type 6; and hypertension. Orthologous to human LIPE (lipase E, hormone sensitive type). [provided by Alliance of Genome Resources, Apr 2022]