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Former president Bill Clinton is throwing his support behind Priorities USA Action, the super PAC backing President Obama, agreeing to headline a "briefing" for potential donors in New York City later this month.

The event marks Clinton's first foray into fundraising for the group, Priorities USA senior strategist Bill Burton told ABC News. The 42 nd president's appearance is aimed at keeping Obama competitive in the money race with GOP outside groups, which have held a sizable advantage.

It's also the latest sign of the high-profile, high-value role Clinton is playing in Obama's re-election campaign.

Clinton, who famously clashed with Obama during the 2008 campaign, has appeared in Obama campaign TV ads; stood by the president's side in appeals to deep pocket Democratic donors; and will deliver the keynote nominating address on the third night of the Democratic National Convention next month.

Clinton's involvement with Priorities was first reported by The New York Times.

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