A multiphase power converter and a corresponding method is presented. The multiphase power converter contains a first and a second constituent switched-mode power converter. The first constituent switched-mode power converter provides, both in a first mode of operation and in a second mode of operation, a first phase current to an output of the converter. The second constituent switched-mode power converter provides, in the second mode, a second phase current to the output of the converter. The converter switches, depending on an operation condition of the converter, between the first mode and the second mode. A first transconductance of the first constituent switched-mode power converter is adapted when switching between the first mode and the second mode. By adapting the first transconductance, unsteadiness of the output voltage of the converter occurring during the switching between both modes of operation is minimized.