The dynamics and the performance of a novel multibody wave energy converter is investigated, which is based on inclined single modules connected to a frame. The frame floats on the sea surface and the modules each move translationally along inclined guidance rods. Direct-drive linear generators or rotation based generators convert the relative translational motion between the frame and the modules into electrical power. This paper studies the conditions which influence the performance of the converters in regular and irregular waves. Different design layouts are investigated numerically, whereby the wave excitation is modeled by a random non-white Gaussian stochastic process.