Caerwent was a dark-coated bay horse with no white markings bred by his owner, Edmund Loder, at the family's Eyresfield Stud near the Curragh in County Kildare.
Ridden by the American jockey Cash Asmussen, Caerwent went to the front approaching the final furlong and "stormed clear" to win by five lengths from Acajou.
[7] Four weeks later the still unbeaten colt was sent to England and started the 4/1 second favourite for the 2000 Guineas over the Rowley mile at Newmarket Racecourse but came home fifth of the nine runners behind Doyoun, Charmer, Bellefella and Aiglefin.
In the Irish 2000 Guineas on 14 May, Caerwent was made the 6/1 third choice in the betting and looked likely to win after taking the lead inside the final furlong only to be caught on the line and beaten a neck by his stablemate Prince of Birds.
[8] In June Caerwent was sent to England for the second time to contest the St James's Palace Stakes at Royal Ascot and finished third to Persian Heights and Raykour, with Blushing John and Prince of Birds in fourth and fifth.
On 2 July the colt was dropped in class and matched against older horses in the Group 2 Lanes End International Stakes over one mile at Phoenix Park.
In the Vernons Sprint Cup over six furlongs at Haydock Park on 3 September he finished third behind Dowsing and Silver Fling despite hanging badly to the left in the closing stages.