Magnesium-independent phospholipid phosphatase with broad substrate specificity (PubMed:17590538). Preferentially catalyzes the conversion of diacylglycerol pyrophosphate into phosphatidate but can also act on phosphatidate and lysophosphatidate (PubMed:17590538). Phospholipid phosphatases are involved in both the synthesis of lipids and the generation or degradation of lipid-signaling molecules (PubMed:17590538). {ECO:0000269|PubMed:17590538, ECO:0000303|PubMed:17590538}. This is the function of Ensembl gene identifier ENSG00000147535 (PLPP5, phospholipid phosphatase 5).