President Obama is bolstering his party’s campaign coffers, joining an ally of former Secretary of State Hillary Clinton to help the Democratic National Committee climb out of a worrisome deficit. It’s the latest alignment of the Obama and Clinton orbits, as the former first lady considers a White House bid in 2016.

Obama is traveling to New York Tuesday to raise money for the party at two events, including a high-dollar fundraiser at the home of Alan Patricof, the founder of a New York venture capital fund. Patricof is a longtime Clinton friend and financial bundler for her Senate and presidential campaigns.