Plays a role in regulating ADIPOQ and FABP4 levels in differentiating adipocytes and is also involved in regulation of adipocyte triglyceride storage. Weakly binds 25-hydroxycholesterol. Heterodimer with OSBPL9. Localizes at the Golgi-late endosome interface. The PH domain binds phosphoinositides. Belongs to the OSBP family.