Lil Wayne, Rauw Alejandro and More Team Up to Launch Run Fast Racing, a New Celebrity Horse Racing Group (Exclusive)

Lil Wayne, Rauw Alejandro and Lil Yachty are off to the races!

Talent manager Adam Kluger is launching Run Fast Racing, a celebrity racehorse ownership group aiming to mix the thrill of horse racing with the glamour of star power, alongside those artists, PEOPLE can exclusively reveal.

“As a horse racing fan for 20 years, I’m thrilled to be able to bring in my celebrity friends and start working towards getting this incredible sport the exposure it deserves,” Kluger said in a press release.

The CEO of Kluger Agency, Kluger aims to grow his already star-studded roster that matches his enthusiasm for the new venture.

“I’m excited to have some fun with this,” Lil Wayne, 42, said in a statement.

Alejandro, 32, added: “I have great memories of going to the horse races with my grandpa as a kid in Puerto Rico. I’ve been a passionate fan of horse racing for a long time, and I’m thrilled to own these incredible horses alongside Wayne and Yachty.”

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“I’ve been excited since the minute Adam pitched me this idea a year and a half ago. It’s been great to see everyone come together to embrace it,” Lil Yachty, 27, said. “I’m ready to have some fun and get involved as much as I can in the sport.”

Run Fast Racing is committed to following the highest standards of safety and care for any horses involved and will follow regulations set forth by the Horseracing Integrity and Safety Authority (HISA), putting the well-being of the horses involved first, on and off the track.

Kluger’s announcement comes weeks before the star-studded Kentucky Derby takes place on Saturday, May 3 at Churchill Downs.