We consider the minimum-cut partitioning of a graph into more than two parts using spectral methods. While there exist well-established spectral algorithms for this problem that give good results, they have traditionally not been well motivated. Rather than being derived from first principles by minimizing graph cuts, they are typically presented without direct derivation and then proved after the fact to work. In this paper, we take a contrasting approach in which we start with a matrix formulation of the minimum cut problem and then show, via a relaxed optimization, how it can be mapped onto a spectral embedding defined by the leading eigenvectors of the graph Laplacian. The end result is an algorithm that is similar in spirit to, but different in detail from, previous spectral partitioning approaches. In tests of the algorithm we find that it outperforms previous approaches on certain particularly difficult partitioning problems.