Enables sterol esterase activity. Involved in fatty acid metabolic process and sterol metabolic process. Located in lysosome. Human ortholog(s) of this gene implicated in Wolman disease; cholesterol ester storage disease; and lysosomal and lipase deficiency. Orthologous to human LIPA (lipase A, lysosomal acid type). [provided by Alliance of Genome Resources, Apr 2022]