a 1-acyl-sn-glycero-3-phosphocholine + H2O = a fatty acid + H(+) + sn-glycerol 3-phosphocholine In addition this protein catalyzes a transacylation reaction to produce acyl phosphatidylglycerol by transfer of the acidyl residue of 2-acyl lysophospholipid to phosphatidylglycerol. Lysophospholipases from various sources vary widely in molecular weight, substrate specificity, and subcellular localization.