Mediates the hydrolysis of steryl esters (SE) (PubMed:10515935, PubMed:14640980, PubMed:15713625). Preferentially hydrolyzes ergosteryl and zymosteryl esters (PubMed:19111628). Required for mobilization of SEs from lipid particles/droplets, thereby playing a central role in lipid metabolism and sterol homeostasis. Sterol intermediates stored in SE and set free by SE hydrolases are recycled to the sterol biosynthetic pathway and converted to the final product, ergosterol, in the endoplasmic reticulum. Has also weak lipase activity toward triglycerides at neutral pH, however, the physiological relevance of this activity is unclear (PubMed:15922657, PubMed:19111628, PubMed:28866104). a sterol ester + H2O = a fatty acid + a sterol + H(+) Optimum pH is 7.4. Partially retained in the endoplasmic reticulum in cells lacking triacylglycerols and consequently lipid droplets. Not N-glycosylated. Present with 1470 molecules/cell in log phase SD medium. Belongs to the AB hydrolase superfamily.