An apparatus and method for efficiently managing power consumption among multiple, replicated functional blocks of an integrated circuit. An integrated circuit includes multiple, replicated memories that use separate power domains. Data of a given type is stored in an interleaved manner among the multiple memories. When control circuitry detects an idle state, commands are sent to the multiple memories specifying storing data of the given type in a contiguous manner in the memories connected to multiple functional blocks. Subsequently, the control circuitry transitions all but one of the memories to the sleep state. The memories rotate amongst themselves with a single memory being in the active state and servicing requests based on which data of the given type is targeted by the requests.