Plays a role in the organization of endoplasmic reticulum exit sites. Specifically binds to phosphatidylinositol 3-phosphate (PI(3)P), phosphatidylinositol 4-phosphate (PI(4)P) and phosphatidylinositol 5-phosphate (PI(5)P). Interacts with SEC23A. Ubiquitously expressed with stronger levels detected in heart, liver and skeletal muscle. Belongs to the PA-PLA1 family. Although belonging to the PA-PL1 family, does not seem to have any phospholipase activity.