Carnegie was unraced as a two-year-old and began his racing career in March 1994 when he won the Prix Dardo over 2000 metres at Saint-Cloud Racecourse.

[5] On 4 April he finished second to Rainbow Dancer in the Prix de Courcelles over 2100 metres at Longchamp Racecourse with Tikkanen in third place.

He turned into the straight in sixth place before taking the lead 200 metres from the finish and winning by one and a half lengths from Northern Spur, with Sunshack third, Celtic Arms fourth and Rainbow Dancer unplaced.

Jarnet sent the colt into the lead in the straight and he prevailed in a blanket finish from Hernando, Apple Tree, Ezzoud and Bright Moon.

[10] Carnegie began his four-year-old campaign in June, when he was sent to England to contest the Coronation Cup at Epsom Downs Racecourse.

In July he started favourite for the Grand Prix de Saint-Cloud and caught the leader Luso in the closing strides to win by a short neck, with Only Royale, Tikkanen and Sunshack among the beaten horses.

[12] Carnegie and Balanchine were joined by Swain in Sheikh Mohammed's entry for the Arc de Triomphe and started at odds of 2.1/1 in a field of sixteen runners.