EXHIBIT 24.2 The General Partner and Unitholders Alliance Capital Management L.P.: We consent to incorporation by reference in the registration statement on Form S-8 of Alliance Capital Management L.P. of our report dated January 27, 1994, except for Note 12 which is as of March 7, 1994, relating to the statements of financial condition of Alliance Capital Management L.P. and subsidiaries as of December 31, 1993 and 1992, and the related statements of income, partners' capital and cash flows for each of the years in the three-year period ended December 31, 1993 which report appears in the annual report on Form 10-K of Alliance Capital Management L.P. and our report dated July 8, 1994 relating to the statement of net assets available for plan benefits of the Alliance Capital Management L.P. Profit Sharing Plan for Former Employees of Equitable Capital Management Corporation as of December 31, 1993 and the related statement of changes in net assets available for plan benefits for the period July 23, 1993 (effective date) through December 31, 1993 which report appears in the December 31, 1993 annual report on Form 11-K of the Alliance Capital Management L.P. Profit Sharing Plan for Former Employees of Equitable Capital Management Corporation. New York, New York July 12, 1994 /s/KPMG PEAT MARWICK --------------------