A survey of 150 public pension plans, conducted by the Bear Stearns Pension, Endowment and Foundation Services Group and the Government Finance Officers Association, found that 52 percent of the pension plans have or plan investments in alternative assets over the next year. At 60 percent, private equity was second only to real estate (85 percent) on the list of current and planned investments in alternative asset classes (See Bear Stearns - a J.P. Morgan division).