June 1 (Bloomberg) -- Billionaire investor Warren Buffett will host a fundraising event for Democratic presidential candidate Hillary Clinton in New York this month, helping her attract donors who can write four-figure checks and court fresh faces in the investing community.

An invitation for the June 26 cocktail party, whose location is still to be announced, says a limited number of tickets will go to ``young Wall Street'' at $500 each. Other attendees are asked to give between $1,000 and $4,600, the legal maximum.

Buffett, who built Omaha, Nebraska-based Berkshire Hathaway Inc. from a failing textile maker into a holding company with a market value of $168 billion, said last month that he would help either Clinton or Illinois Senator Barack Obama with their presidential campaigns if asked. He will also host a fundraiser for Obama, said Obama spokeswoman Jen Psaki.

Clinton and Obama both ``would apply enormous energy toward the right goals,'' Buffett said in a May 9 interview. ``Either one would make a great president.''

Obama, 45, has been competing for Wall Street money with Clinton, who represents New York in the Senate. Buffett extended an offer to host an event for Obama in upcoming months, and the campaign is working out the date and location with him, Psaki said.

Banking Donors

Executives at Citigroup Inc. and Goldman Sachs Group Inc. represent the two biggest groups of donors to Clinton, 59, during her two Senate campaigns. In the first quarter of the presidential race, Goldman employees gave more of their contributions to Obama than to Clinton, Federal Election Commission filings indicate.

Attendees who raise at least $10,000 for the June 26 event - - bundling checks from other donors -- will be recognized in the program as hosts, according to the invitation. Co-chairmen must raise at least $25,000 and chairmen at least $50,000; both also qualify for a dinner with Buffett and Clinton before the evening reception.

A spokeswoman for Buffett confirmed the event and had no further comment. Clinton campaign officials didn't return calls and e-mails seeking comment.

To contact the reporters on this story: Kristin Jensen in Washington at kjensen@bloomberg.net; Timothy J. Burger in Washington at tburger2@bloomberg.net

Last Updated: June 1, 2007 17:11 EDT