A voltage balancing circuit for use in a power converter is described. In one example, a power converter includes series-connected switching transistors for power conversion, and a voltage balancing control loop. The voltage balancing control loop includes a measurement circuit electrically coupled to a transistor in the pair of series-connected switching transistors. The measurement circuit is electrically coupled to measure a body voltage reference of the transistor. The voltage balancing control loop also includes a balancing circuit configured to generate a balancing pulse signal for adjusting a voltage across the transistor using the body voltage reference, and a circuit configured to combine the balancing pulse signal with a gate drive pulse signal for the transistor, to form a balanced gate drive pulse signal for the transistor. The balanced gate drive pulse signal helps to equalize the body diode voltages of the series-connected switching transistors, particularly during “off” periods.