EXHIBIT 23-A


INDEPENDENT AUDITORS' CONSENT

We consent to the incorporation by reference in this Amendment No. 1 to
Registration Statement No. 333-46403 on Form S-3 of our reports dated January
23, 1998, appearing in and incorporated by reference in the Annual Report on
Form 10-K of the Registrant for the fiscal year ended November 30, 1997
(which makes reference to the audit of Morgan Stanley Group Inc. at November
30, 1996 and for each of the two fiscal years in the period ended November
30, 1996 by other auditors); and to the reference to us under the heading
"Experts" in the Prospectus, which is part of this Registration Statement.


/s/ DELOITTE & TOUCHE LLP

DELOITTE & TOUCHE LLP

New York, New York
February 25, 1998