Component of the Rpd3L histone deacetylase complex; required for diauxic shift-induced histone H2B deposition onto rDNA genes; transcriptional modulator involved in regulation of structural phospholipid biosynthesis genes and metabolically unrelated genes, as well as maintenance of telomeres, mating efficiency, and sporulation; localizes to both the nucleus and mitochondria where it may play a role in mitophagy