Texas Municipal Retirement System, Austin, is making its first-ever equity investments, hiring Northern Trust Global Investments to manage passive domestic and international equity portfolios, confirmed Bill Wallace, spokesman for the $13.8 billion retirement system. Northern Trust will begin managing a total of $140 million in the two portfolios, and could eventually manage up to $1.7 billion in total passive assets for the retirement system, according to Mr. Wallace. Until now, the fund has had all of its assets in fixed income. TMRS officials approved a plan last month to gradually allocate 6% each to domestic and international equities by the end of 2008. R.V. Kuhns assisted.