A power converter is disclosed. According to one embodiment, the power converter includes a first stage comprising a current source and a second stage comprising n output circuits for converting the current signal into n corresponding output voltages. Each of the n output circuits includes an output switch responsive to a corresponding n.sup.th control signal for regulating the corresponding n.sup.th output voltage. The second stage further comprises a controller for generating the n control signals. The controller includes, for each of the n output circuits, an error amplifier, a waveform generator, and a summing circuit. Each error amplifier is configured to generate an output signal based upon a comparison of the output voltage of the n.sup.th output circuit and a corresponding n.sup.th reference voltage. Each waveform generator generates a waveform signal. The waveform signals for the n output circuits are characterized by a common amplitude and period, and the phases of the waveforms signals are spaced at predetermined intervals. For each of the n outputs, the corresponding summing circuit sums the output of the error amplifier and the waveform signal to generate an amplitude-shifted waveform signal. The controller further includes a comparator for outputting the n control signals to the output switches based upon a comparison of the relative amplitudes of the amplitude-shifted waveform signals.