Private equity titan Ben Gray will host an election fundraiser at his Melbourne home for Prime Minister Anthony Albanese ahead of the federal budget as Labor and the Coalition use the delayed start to the official campaign to conduct last-minute donation drives.

Albanese confirmed on Friday that he attended an election fundraising function last week, as then-cyclone Alfred threatened the Queensland coast and on the same day as Peter Dutton attended a separate event at pub baron Justin Hemmes’ Sydney home.