Like this (the point is the placement of #list
-s, but I have made some other changes too for better readability):
<ul>
<#list nav.children?chunk(4) as navChildGroup>
<li class="${nav_class}">
<ul>
<#list navChildGroup as navChild>
<li>${navChild.name}</li>
</#list>
</ul>
</li>
</#list>
</ul>