Multifunctional lipase/hydrolase/phospholipase; triacylglycerol lipase, steryl ester hydrolase, and Ca2+-independent phospholipase A2; catalyzes acyl-CoA dependent acylation of LPA to PA; required with Tgl3p for timely bud formation; phosphorylated and activated by Cdc28p; TGL4 has a paralog, TGL5, that arose from the whole genome duplication