Indian private equity firm Multiples Alternate Asset Management and L Capital, the private equity arm of French luxury goods conglomerate LVMH, have invested INR2.32 billion (approximately US$41.7 million) in Indian multiplex cinema chain PVR Cinemas. The investment will be used to fund part of PVR’s acquisition of movie theater operator Cinemax India. Following the transaction, Multiples and L Capital, which had previously invested in PVR, will each own 15.8 percent of the company.