Pipe Trades Pension Trust Fund, New Mexico, Albuquerque, is reviewing private equity and hedge funds as possible investments for the $380 million pension plan, said Edmond Jeung, director of trust and corporate investments. Consultant Watson Wyatt will give a report at the plans May 16 board meeting. Funding may come from reallocating investments in John Hancock ForestTree 3 and PruTimber 3, as those contracts will expire this year, and from reducing other portfolios, he said. The amounts of the investments werent available. Mr. Jeung said he does not expect any terminations. The funds current asset allocation is 55% domestic equity, 8% international equity, 27% domestic fixed income, 9% alternatives and 1% cash.