Involved in the detoxification of xenobiotics and in the activation of ester and amide prodrugs (PubMed:
7980644, PubMed:
9169443, PubMed:
9490062, PubMed:
18762277). Hydrolyzes aromatic and aliphatic esters, but has no catalytic activity toward amides or a fatty acyl-CoA ester (PubMed:
7980644, PubMed:
9169443, PubMed:
9490062, PubMed:
18762277). Hydrolyzes the methyl ester group of cocaine to form benzoylecgonine (PubMed:
7980644). Catalyzes the transesterification of cocaine to form cocaethylene (PubMed:
7980644). Displays fatty acid ethyl ester synthase activity, catalyzing the ethyl esterification of oleic acid to ethyloleate (PubMed:
7980644). Converts monoacylglycerides to free fatty acids and glycerol. Hydrolyzes of 2-arachidonoylglycerol and prostaglandins (PubMed:
21049984). Hydrolyzes cellular cholesteryl esters to free cholesterols and promotes reverse cholesterol transport (RCT) by facilitating both the initial and final steps in the process (PubMed:
18762277, PubMed:
16024911, PubMed:
11015575, PubMed:
16971496). First of all, allows free cholesterol efflux from macrophages to extracellular cholesterol acceptors and secondly, releases free cholesterol from lipoprotein-delivered cholesteryl esters in the liver for bile acid synthesis or direct secretion into the bile (PubMed:
18762277, PubMed:
18599737, PubMed:
16971496).