A free-floating wave energy converter (WEC) concept whose power take-off (PTO) system reacts against water inertia is investigated herein. The main focus is the impact of inclining the PTO direction on the system performance. The study is based on a numerical model whose formulation is first derived in detail. Hydrodynamics coefficients are obtained using the linear boundary element method package WAMIT. Verification of the model is provided prior to its use for a PTO parametric study and a multi-objective optimization based on a multi-linear regression method. It is found that inclining the direction of the PTO at around 50° to the vertical is highly beneficial for the WEC performance in that it provides a high capture width ratio over a broad region of the wave period range.