How to wrap a C object with its own reference counting?

[dbs4261]

Hi folks, I am working on wrapping some Embree code. One of the things I am looking at is the device handles. The API specifies 3 functions New, Retain, and Release.
Ideally when I bind the device handle, I would like it to use Embree's reference counting under the hood. So if there is a device created in C++ land that is returned to Python, it is not cleaned up until all the references in both python and c++ hit zero. But based on what I have found so far inside Pybind11 I will need to hack it together. So far my only idea is to create a custom holding type that increments when created and decrements when destroyed. What is the proper approach I should take?