We consider the problem of partitioning a graph into k components of roughly equal size while minimizing the capacity of the edges between different components of the cut. In particular we require that for a parameter ν ≥ 1, no component contains more than ν · n k of the graph vertices. For k = 2 and ν = 1 this problem is equivalent to the well known Minimum Bisection Problem for which an approximation algorithm with a polylogarithmic approximation guarantee has been presented in [FK02]. For arbitrary k and ν ≥ 2 a bicriteria approximation ratio of O(logn) was obtained by [ENRS99] using the spreading metrics technique. We present a bicriteria approximation algorithm that for any constant ν > 1 runs in polyno