Last week Valero Energy Partners (NYSE:VLP) announced its first acquisition as a publicly traded master limited partnership. Investors have keyed into the partnership as a growth opportunity in the MLP space, which makes this first deal significant, even though it was relatively small, only totaling $154 million.

In the following slide show, we'll explore which assets Valero Energy Partners purchased from Valero (NYSE:VLO) and how long it will take the assets to pay for themselves. For context, we'll also compare this deal to Phillips 66 Partners' (NYSE:PSXP) first acquisition, announced back in February.

Aimee Duffy has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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