Henry Herbert, 7th Earl of Carnarvon, formerly known as Lord Porchester until 1987, was a British noble and a prominent racing manager for Queen Elizabeth II. His legacy is both significant and multifaceted. Firstly, he bequeathed Highclere Castle, renowned as the backdrop for the beloved 1990s sitcom "Jeeves and Wooster" and the acclaimed historical drama "Downton Abbey." Additionally, he established Highclere Stud, a picturesque 300-acre horse breeding farm nestled in a valley of the Hampshire hills. However, perhaps his most enduring contribution lies in his deep passion for horses and racing, his sharp business acumen, and his strong character, all of which he passed down to his descendants. These qualities were instrumental in the creation of Europe’s leading racing enterprise, Highclere Thoroughbred Racing, which specialises in forming horse syndicates and offering shares to racing enthusiasts. The driving force, founder, and managing director of the company since its establishment in 1992 is Henry Malcolm Herbert, affectionately known as Harry Herbert, the middle son of the Earl.
Harry Herbert's Career
Growing up as the son of the Queen’s racing manager, Harry Herbert was immersed in a world dominated by discussions of horses. Initially, the constant talk about horses led to a sense of aversion, as it felt as if his path in life had already been predetermined. Eager to carve his own identity and pursue his own interests, he sought to gain independence. However, his interest in racehorses gradually reignited. To avoid being seen merely as a beneficiary of his father’s status, Harry chose to study the racing industry in the United States. He secured a position with Matchmaker, a company in Kentucky led by Barry Weisbord, whose mentorship Harry reflects on as a pivotal and exciting time in his life. In this nurturing environment, he was encouraged to share ideas and develop professionally. Matchmaker specialised in trading shares that provided annual breeding rights to stallions; they were ahead of the times by being among the first to share horse information via fax, creating the Thoroughbred Daily News prior to the internet era. During his tenure, young Harry absorbed valuable insights into finance, racecourse management, and thoroughbred insurance from Weisbord. This invaluable experience laid the groundwork for the establishment of his own company, Matchmaker UK, upon his return to England in the mid-1980s. Just a few years later, in 1992, he founded Highclere Thoroughbred Racing, which has continued to thrive ever since.
Family Business
After the passing of the Honourable Henry Herbert, 7th Earl of Carnarvon, in 2001, John Warren, a highly skilled professional in thoroughbred breeding, assumed the role of racing manager for Her Majesty the Queen. He is married to Caroline, the younger sister of Harry Herbert, and their son, Jake Warren, was a godson of Princess Diana. Jake has inherited his father's innate ability to connect with and understand horses, quickly establishing himself as an expert in thoroughbred breeding. The family operates Highclere Stud, which serves as the foundation for their newly established company.
Together, Harry Herbert, John, and Jake Warren procure yearlings for Highclere Thoroughbred Racing (HTR) at major sales worldwide, including Tattersalls, where they assess up to 100 foals daily. "John possesses an extraordinary talent for predicting the potential of each horse as a racehorse. He is truly a genius, excelling in every aspect from purchasing the horse to managing the stud that he inherited from my father," Harry Herbert remarked in a Tempus Magazine interview.
The horses are raised at Highclere Stud, where they are prepared before being sent to various trainers. Notable trainers associated with HTR include Michael Stoute, with whom Harry Herbert enjoys a long-standing relationship, as well as John Gosden and Luca Cumani. Currently, there are 24 trainers collaborating with HTR, spread across 13 locations nationwide, including Newmarket, Alcester, Mentone, and Penrith.
Syndicates
Highclere Thoroughbred Racing specialises in syndicates—small groups of individuals, typically comprising 10 to 20 members, who aspire to become horse owners. The cost of a share varies among syndicates, ranging from £6,000 to £30,000. This initial fee covers the purchase price of the horse along with all associated operating expenses, followed by a smaller annual fee in subsequent years. This approach eliminates a constant stream of bills, ensuring a transparent and convenient payment system.
A syndicate typically lasts for two racing seasons. At the conclusion of the horse’s four-year-old season, the horse is sold, and the syndicate is dissolved, with all members receiving a comprehensive account of expenditures.
Essentially, HTR serves as a personal management service for each owner, where the cost of independent ownership would be significantly higher. HTR absorbs all expenses, allowing shareholders to enjoy a sense of participation in the prestigious world of thoroughbred racing.
Owners are encouraged to visit the stables to see their horse and learn about the environment in which it is housed. The stud also organises an annual yearling parade, with the most recent held on 20 October 2024. For those with horses training in Newmarket, opportunities abound to stay at the historic Jockey Club Rooms, dine with trainers to discuss their horses, and watch training on the renowned Newmarket heath the following morning.
HTR maintains a private box at Newbury, exclusively available to syndicate owners. Harry Herbert consistently emphasises that syndicate ownership is more about the enjoyment of having a racehorse and immersing oneself in the sport rather than viewing it solely as an investment. While returns may not always be guaranteed, the thrill of winning—especially in significant races—is a uniquely satisfying experience.
Achievements of Syndicate Horses
In 1995, Lake Coniston earned the title of European Sprint Champion. The following year, Delilah, a three-year-old filly, was recognised as the European Champion. Similarly, Tamarisk also claimed the European Champion title in 1998, followed by Petrushka, who achieved the same honour in 2000.
In 2005, Motivator was celebrated as both Horse of the Year and Champion Three-Year-Old. Moving forward to 2010, two-year-old filly Memory was named RPA Champion, while Harbinger earned accolades as both European and World Champion.
Since its inception, 27% of the syndicate horses have triumphed in G1-3 or Listed races, with 10 horses achieving victory at Royal Ascot, surpassing any other syndicate horse company. Notably, in 2022, HTR Cachet made history by winning the Qipco 1000 Guineas Stakes at Newmarket, becoming the first British Classic winner from this syndicate.
The advantages and appeal of racehorse syndication are becoming increasingly clear. It allows individuals to participate in the racing world at an accessible cost, enabling them to be active contributors “from this side of the fence.” As a result, Highclere Thoroughbred Racing is poised for a promising future, and its founder and director have plenty of work ahead.