Michael Bloomberg, the former New York City mayor and billionaire businessman, is expected to move his four-year-old political action committee to the left, New York magazine reported.

Bloomberg Philanthropies, the money-raising initiative for the mayoral candidate, said in a statement on Friday that it would be “facilitating the grantmaking process and exploring more innovative approaches to support leaders on the left.” The timing for an expansion of the PAC is unclear.

The move is likely to align Mr. Bloomberg more closely with fellow philanthropist Tom Steyer, who is focusing his environmental activism efforts on the digital arena. And the Bloomberg camp has been considering a more conventional move in which the PAC would compete more directly with other well-heeled individual donors seeking to influence policy.

Though he hasn’t formally announced a candidacy, Bloomberg has been already making moves to position himself for the 2020 race and to build support in the Democratic Party. He has been considering running a “unity” ticket, made up of both Hillary Clinton and President Donald Trump, that could break the impasse between the opposing political parties in Washington. But that plan has been complicated by the fact that many Democrats are enthusiastic supporters of Mr. Steyer’s war on climate change.

Bloomberg spokeswoman Amber Abrams declined to comment on the possible future role of the PAC, instead pointing to the statement from Bloomberg Philanthropies.

“Our goal is to support the best possible ideas, proposals and leadership to improve the lives of all Americans and shape a more prosperous world,” the statement said. “As we continue to move into 2019, we will be exploring new ways to help advance ideas, build relationships and support our political and philanthropic allies on the left.”