EXHIBIT 23.1




The Board of Directors
Alliance Capital Management L.P.
1345 Avenue of the Americas
New York
New York 10105
USA



Dear Sirs

We consent to the inclusion of our report dated April 26, 1996 with respect to
the combined balance sheets of Cursitor Alliance Holdings Limited and Cursitor
Holdings Limited Partnership (together "Cursitor"), as of December 31, 1995 and
1994, and the related combined statements of earnings, changes in shareholders'
capital, changes in partners' capital and cash flows for the years then ended,
which report appears in the Form 8-K of Alliance Capital Management L.P. dated
May 6, 1996.



                                                                           KPMG

May 6, 1996