Yulong secures Hunter Valley presence with Segenhoe purchase

Yulong has purchased renowned NSW farm Segenhoe in a deal worth tens of millions of dollars more than two years after first being linked to the prime Hunter Valley stud.

After months of growing speculation about Yulong’s immediate intentions to establish a presence in the Hunter Valley, the Zhang Yuesheng-owned thoroughbred empire will take over Segenhoe before the start of the 2026 breeding season.

The move will further empower Yulong’s footprint on Australasian – and international – racing and breeding as it launches a stallion roster based at Segenhoe and moves many of its high-class broodmares to NSW to support the expansion. 

The Galaxy-winning sprinter Private Harry and Blue Diamond-winning colt Devil Night will both retire to the New South Wales base and be joined by Alabama Express, Tagaloa and Lucky Vega in 2026.

Yulong won a bidding duel to buy a 50 per cent interest in Private Harry last year when the then three-year-old was unbeaten in six starts with a Group 1 on his CV.

The opening of a stallion business in the Hunter Valley, the southern hemisphere’s largest thoroughbred breeding region, will run in tandem with Yulong’s large-scale Victorian operation near Nagambie.

The Victorian stud will feature stallions Written Tycoon, Pierata, Vinrock, Diatonic, Grunt, Panthalassa, Growing Empire and First Settler on its 2026 roster.

“Natural progression and expansion of our colt purchases, both as yearlings and racehorses, has led to us now focusing on developing a stallion facility in NSW,” Yulong’s chief operating officer Sam Fairgray said in a statement.

“We have a beautiful property and facilities in Victoria, along with some regally bred bloodstock, and this operation will continue to remain a strong focus for us. 

“Our stallion barn however filled very quickly, so to expand the operation to both states was the next logical step in Yulong’s development.”

Yulong has become the biggest thoroughbred investor across Australasia with Zhang’s vision to acquire the best bloodstock he can, be it stallions, broodmares or racing stock, to compete on the global stage.

The mission has already led to Yulong owning a string of high-class horses including back-to-back Cox Plate-winning mare Via Sistina and Blue Diamond Stakes-winning colt Devil Night. 

Written Tycoon colt Tycoon Star also won the Group 2 Tobin Bronze in Adelaide last Saturday with the Group 1 Goodwood a possible target.

Yulong has plans to undertake a comprehensive redevelopment of existing infrastructure at Segenhoe including the construction of a new stallion barn and purpose‑built serving facilities capable of accommodating up to 10 stallions.

The sale will also end Sydney businessman Kevin Maloney’s more than 15-year ownership of Segenhoe, which during his tenure has produced Group 1-winning graduates including Joliestar, In Secret, Amelia’s Jewel, King Colorado and Pride Of Jenni.

“Segenhoe has been run as a family enterprise and the family is pleased to welcome Yulong as the new owners, particularly given the professional approach it has demonstrated with its other racing interests,” Maloney said in a statement.

Segenhoe’s change of ownership could have necessitated the stud’s mare-owning clients to relocate their stock to other properties but that’s not the case, with Yulong to accept outside horses for agistment.

Its client base includes Fairway Thoroughbreds’ John Camilleri, the breeder of Winx who owns arguably the best boutique broodmare band in the country.

In an interview with The Straight in April last year, soon after Zhang’s son-in-law Jun Zhang was appointed as Yulong’s general manager, Jun made clear Yulong’s long-term ambitions to have a Hunter Valley base.

Jun Zhang replaced Vin Cox who quit his position at Yulong after little more than 12 months in the job citing “differences of opinion”.

“We did look around at a couple of very good properties (with) very good staffing backgrounds. This was two or three years ago,” Jun Zhang told The Straight in April last year.

“But after we purchased Chatsworth Farm (in Victoria), we were just worried about getting there too quickly, so we had to slow it down a bit. We didn’t (want to) get into something that year. But … (the Hunter Valley) is a very good option for us.”

“Whether it’s into the Hunter Valley or New Zealand, around Australia, or even Japan, America, Europe, we’re always open to considering new developments to support Yulong’s future.

“You can see the difference between the Hunter Valley and the Victoria currently, especially breeding farms and the stallion business … with the quantity of broodmares, the (majority are) in the Hunter. 

“So, like I said, if there is a very good opportunity (for Yulong to) get into Hunter Valley, that would be great. It also depends on Yulong’s stallion strategy.”

Donovan & Co’s Clint Donovan and Magic Millions were jointly appointed by Maloney as the selling agents of Segenhoe in May 2024, with the firms embarking on a global advertising campaign for the “trophy property”.

Maloney acquired the historic Segenhoe Stud in 2010, following its relocation to the current site, and has since committed substantial investment to expand the holding and enhance its infrastructure and pastures.

Set across the Segenhoe Valley with 10 kilometres of Hunter River frontage, the thoroughbred and Angus cattle enterprise includes a main homestead, manager’s residence, guest accommodation, a yearling preparation complex, handling facilities and a dedicated stud office.

Horse paddocks are double-fenced throughout, with established trees providing natural protection in all conditions, supported by additional shelter sheds in larger enclosures.

A significant water licence underpins irrigation to the majority of paddocks, while sealed internal roads minimise dust and contribute to maintaining optimal conditions for livestock.

The property’s fertile alluvial flats feature deep topsoil, complemented by a variety of pasture and soil profiles that allow for customised paddock allocation to suit individual horses.

Segenhoe sits within close range of major Hunter Valley operations, including Darley and Newgate Farm on Rouchel Road, often dubbed the “road of champions”. Arrowfield Stud and Vinery Stud are also nearby.

Peter O’Brien has been general manager since late 2013, having joined from Coolmore Stud after nearly 30 years with the Magnier family.