Involved in the maintenance of cell wall integrity. Required for the replacement of the diacylglycerol moiety by ceramides during GPI-anchor maturation. Concentrates to the bud tip of small budded cells and to the neck of dividing cells. The PGAP2-like region interacts with the PGAP2IP-like region. In the N-terminal section; belongs to the PGAP2 family. In the C-terminal section; belongs to the PGAP2IP family.