An apparatus includes a first power converter and a second power converter. The first power converter converts an input voltage into a first output voltage; the second power converter converts the first output voltage into a second output voltage that powers a load. The second power converter includes a switched-capacitor converter combined with a magnetic device. The switched-capacitor converter provides capacitive energy transfer; the magnetic device provides magnetic energy transfer. Additionally, the second power converter provides unregulated conversion of the first output voltage into the second output voltage via the capacitive energy transfer and the magnetic energy transfer. To maintain the magnitude of the second output voltage within a desired range or setpoint value, the first power converter regulates a magnitude of the first output voltage based on comparison of a magnitude of the second output voltage with respect to a desired setpoint reference voltage.