Data center electricity consumption has been increasing rapidly in the last few years as computation moves into cloud computing. In an attempt to adapt the old 12 V infrastructure with the new one a DC-DC converter can provide the interface between the 48 V bus and the regulated 12 V rail. This paper focuses on a novel cascaded converter consisting of a resonant switched capacitor converter and a novel dual phase three-level buck converter, which intrinsically enables flying capacitor balancing throughout inductive energy. Experimental results for a 600W prototype in 8th brick low profile achieving 1.846 kW/in^3 power density, are showing the effectiveness of the proposed approach.