Hydrolyzes bioactive fatty-acid esters of hydroxy-fatty acids (FAHFAs), but not other major classes of lipids . Show a preference for FAHFAs with branching distal from the carboxylate head group of the lipids . Regulates the expression and the cell-associated anticoagulant activity of the inhibitor TFPI in endothelial cells (in vitro) .
Subcellular locations: Cell membrane
Colocalized with TFPI and CAV1 in lipid rafts.
Expressed in cultured endothelial cells and in placenta.