"FuPeg", as the colt is affectionately known by his fans, is a son of the great stallion Mr. Prospector and out of Angel Fever, a mare by leading sire Danzig. In addition to the Kentucky Derby, Fusaichi Pegasus also won the Grade 2 San Felipe Stakes and Jerome Handicap.
In 2000, Fusaichi Pegasus was sold to Irish breeder Coolmore Stud for a reported price of more than US$60 million (£35m). The previous record for a stallion prospect was US$40m (£24m), paid in 1983 for Shareef Dancer. Fusaichi Pegasus is currently a "shuttle stallion" standing at Coolmore's Ashford Stud near Versailles, Kentucky during the Northern Hemisphere breeding season and at Coolmore Australia near Jerry's Plains, New South Wales during the Southern Hemisphere breeding season. Among his progeny are Grade 1 winners Bandini and Haradasun.