Patrick Hogan's Irish-born father was both dairy farmer and horse breeder, and he bequeathed to his two sons a small thoroughbred stud. In 1977 the brothers split the partnership, and Patrick established a stud in his own right, which he called Cambridge.

When the stud was being set up, Hogan went abroad seeking a new stallion; ‘'a horse with a good pedigree and a touch of speed”. The horse he selected was Sir Tristram, by English Derby and 2,000 Guineas winner Sir Ivor. He syndicated the horse into 40 shares, with the stud holding 50%. The success of Sir Tristram made Hogan and Cambridge Stud a leader in world breeding. At the end of his career Sir Tristram was the second world leading sire of Group 1 winners (45), and was six times Australian champion sire.

Hogan's skill and judgment as a breeder enabled him to replace one super-sire, Sir Tristram, by another. Zabeel, a son of Sir Tristram, was bought as a yearling by Sheik Hamdan al Maktoum, trained by Colin Hayes, and won over a million dollars in prizemoney. As a four-year-old Zabeel injured a leg and was put up for sale. Hogan, who had long had his eye on Zabeel, made an offer of $750,000, which was accepted. Again Hogan syndicated the horse, retaining half the shares. Zabeel's success was phenomenal. In his first crop he sired Octagonal and Jezabeel, in his second Might and Power and Bezeal Bay, in his third Champagne and Zonda, in his fourth Dignity Dancer and Inaflury.

Sir Patrick and Lady Hogan were named Breeders of the Year each year from 1994-97, the highest honour awarded by the New Zealand Thoroughbred Breeders' Association. Sir Patrick Hogan was inducted into the Hall of Fame in 2005.