Catalyzes the hydrolysis of acyl-CoAs into free fatty acids and coenzyme A (CoASH), regulating their respective intracellular levels (PubMed:15007068, PubMed:16940157). Mainly active on long-chain acyl-CoAs (PubMed:15007068, PubMed:16940157). May have a function in termination of beta-oxidation of fatty acids (PubMed:16940157). H2O + hexadecanoyl-CoA = CoA + H(+) + hexadecanoate decanoyl-CoA + H2O = CoA + decanoate + H(+) dodecanoyl-CoA + H2O = CoA + dodecanoate + H(+) H2O + tetradecanoyl-CoA = CoA + H(+) + tetradecanoate H2O + octadecanoyl-CoA = CoA + H(+) + octadecanoate eicosanoyl-CoA + H2O = CoA + eicosanoate + H(+) (9Z)-octadecenoyl-CoA + H2O = (9Z)-octadecenoate + CoA + H(+) (9Z,12Z)-octadecadienoyl-CoA + H2O = (9Z,12Z)-octadecadienoate + CoA + H(+) (5Z,8Z,11Z,14Z)-eicosatetraenoyl-CoA + H2O = (5Z,8Z,11Z,14Z)-eicosatetraenoate + CoA + H(+) H2O + tetracosanoyl-CoA = CoA + H(+) + tetracosanoate H2O + hexacosanoyl-CoA = CoA + H(+) + hexacosanoate docosanoyl-CoA + H2O = CoA + docosanoate + H(+) (9Z)-hexadecenoyl-CoA + H2O = (9Z)-hexadecenoate + CoA + H(+) Lipid metabolism; fatty acid metabolism. Widely expressed. Highly expressed in the kidney, expressed at low level in the liver. Isoform 2 is expressed in the kidney, but not in the liver. Isoform 1 is liver-specific (PubMed:10567408). Highly expressed in kidney (at protein level) (PubMed:15007068). In the liver and kidney, by peroxisome proliferator (such as Clofibrate) treatment, via the peroxisome proliferator-activated receptors (PPARs) or fasting for 24 hours. Belongs to the C/M/P thioester hydrolase family.