The Power Take-Off (PTO) is the core of a Wave Energy Converter (WECs), being the technology converting wave induced oscillations from mechanical energy to electricity. The induced oscillations are characterized by being slow with varying frequency and amplitude. Resultantly, fluid power is often an essential part of the PTO, being the only technology having the required force densities. The focus of this paper is to show the achievable efficiency of a PTO system based on a conventional hydro-static transmission topology. The design is performed using a model based approach. Generic component models are developed and combined into a PTO system, describing the dynamics and power losses from wave to grid. Using the model, components sizes and control are optimised and the achievable performance of the PTO is identified.