This invention describes novel catalytically active cytosolic enzymes for triacylglycerol biosynthesis from eukaryotic systems. The complex from oleaginous yeast was enzymatically characterized, and was found to contain lysophosphatidic acid acyltransferase, phosphatidic acid phosphatase, diacylglycerol acyltransferase, acyl—acyl carrier protein synthetase, superoxide dismutase and acyl carrier protein. The triacylglycerol biosynthetic machinery rapidly incorporates free fatty acids as well as fatty acyl-coenzyme A into triacylglycerol and its biosynthetic intermediates. Lysophosphatidic acid acyltransferase, phosphatidic acid phosphatase and diacylglycerol acyltransferase from the complex were microsequenced. Acyl carrier protein, superoxide dismutase and diacylglycerol acyltransferase genes were cloned and expressed in bacterial system. The soluble triacylglycerol biosynthetic enzymes (lysophosphatidic acid acyltransferase, phosphatidic acid phosphatase, diacylglycerol acyltransferase) in yeast, rat adipocytes and human hepatocyte cell-line (HepG2) exist in the cytosol either as free enzymes or as a multienzyme complex.