Major lipase in white adipose tissue. Involved in the metabolism of xenobiotics and of natural substrates. Hydrolyzes triacylglycerols and monoacylglycerols, with a preference for monoacylglycerols. The susceptibility of the substrate increases with decreasing acyl chain length of the fatty acid moiety. Catalyzes the synthesis of fatty acid ethyl esters (PubMed:15220344). Hydrolyzes retinyl esters (By similarity). a carboxylic ester + H2O = a carboxylate + an alcohol + H(+) a long-chain fatty acyl ethyl ester + H2O = a long-chain fatty acid + ethanol + H(+) all-trans-retinyl hexadecanoate + H2O = all-trans-retinol + H(+) + hexadecanoate Homotrimer. Highest expression occurs in liver with lower levels in adipose tissue, kidney, heart, intestine, lung, testis and thymus. By di-(2-ethylhexyl) phthalate. Belongs to the type-B carboxylesterase/lipase family. Was originally thought to originate from human.