Has abundant triacylglycerol lipase activity (PubMed:15364929, PubMed:15955102, PubMed:16150821, PubMed:17603008). Transfers fatty acid from triglyceride to retinol, hydrolyzes retinylesters, and generates 1,3-diacylglycerol from triglycerides (PubMed:15955102, PubMed:17603008). Additionally possesses acylglycerol transacylase and phospholipase A2 activities (PubMed:15364929, PubMed:17603008). Able to catalyze fatty acyl CoA-dependent retinol esterification during epidermal maturation, when pH becomes acidic (PubMed:15955102). {ECO:0000269|PubMed:15364929, ECO:0000269|PubMed:15955102, ECO:0000269|PubMed:16150821, ECO:0000269|PubMed:17603008}. This is the function of ENSG00000006757 (PNPLA4, patatin like domain 4, phospholipase and triacylglycerol lipase ).