Du Chai was named managing director and member of the investment team at alternatives manager Horsley Bridge Partners, confirmed company spokesman Aaron Berry.
The position is new. He will join the firm after Labor Day, Mr. Berry said.
Mr. Chai is managing director-private investments and real assets at the $6.12 billion endowment at Northwestern University, Evanston, Ill. The university plans to search for a replacement, according to a university spokeswoman.
Mr. Chai could not be reached for comment.