A circuit assembly for a power converter includes power stage blocks and heat-dissipating substrate. A power stage block includes a power stage IC die, an output inductor that is connected to a switch node of the power stage IC die, and capacitors that form an output capacitor of the power stage block. The output capacitors of the power stage blocks are symmetrically arranged. The output inductors can be placed on the same side of the substrate as the power stage IC dies, or on a side of the substrate that is opposite to the side where the power stage IC dies are disposed. A power stage block may generate two output phases of the power converter.