Involved in peroxisome sequestration to the vacuole during macropexophagy. Also required for microautophagy. Vacuolar and other perivacuolar punctate structures. Contains a beta-propeller domain involved in specific binding to phosphatidylinositol 3,5-bisphosphate (PIP2). The L/FRRG motif is essential for the cytoplasm to vacuole transport (Cvt) pathway and for the recruitment of ATG8 and ATG16 to the PAS in nutrient-rich medium and in both its recruitment to and dissociation from the PAS under starvation conditions. Belongs to the WD repeat PROPPIN family.