Involved in the methylaspartate cycle. Catalyzes the biosynthesis of malate in two steps. In the first reaction acetyl-CoA is condensed reversibly with glyoxylate to form (S)-malyl-CoA. In the second reaction (S)-malyl-CoA is hydrolyzed to malate and CoA. It can also catalyzes the condensation of propionyl-CoA with glyoxylate and of acetyl-CoA with pyruvate, however the CoA-ester hydrolysis reaction is highly specific for (S)-malyl-CoA. (S)-malyl-CoA = acetyl-CoA + glyoxylate (S)-malyl-CoA + H2O = (S)-malate + CoA + H(+) Divalent cations. Mg(2+) and to a lesser extent, Mn(2+), Co(2+) and Ca(2+). Belongs to the HpcH/HpaI aldolase family.