Smart grid introduces new communication demands, as well as multitude of new hardware, software and other asset types that increase the demand for reliable and secure asset management software. This paper explores the database design and implementation of a smart grid asset management application. While relational databases provide excellent platform upon which to build software, the focus of this paper is on object oriented database management system (OODBMS), which provides excellent model of real-life challenges in asset management. Furthermore, object oriented database can readily be converted into software where each class models one database table. This makes it easier to develop software on target database design.