Reading into the design a bit, it sounds like what you really need is a single table called "Asset" with an identity column, and then either:
a) 5 additional tables for the subtypes of assets, each with a foreign key to the primary key on Asset; or
b) 5 views on Asset that each select a subset of the rows and then appear (to users) like the 5 original tables you have now.
If the columns on the tables are all the same, (b) is the better choice; if they're all different, (a) is the better choice. This is a classic DB spin on the supertype / subtype relationship.
Alternately, you could do what you're talking about and recreate the IDENTITY functionality yourself with a stored proc that wraps INSERT access on all 5 tables. Note that you'll have to put a TRANSACTION around it if you want guarantees of uniqueness, and if this is a popular table, that might make it a performance bottleneck. If that's not a concern, a proc like that might take the form:
CREATE PROCEDURE InsertAsset_Table1 (
BEGIN TRANSACTION
-- SELECT MIN INTEGER NOT ALREADY USED IN ANY OF THE FIVE TABLES
-- INSERT INTO Table1 WITH THAT ID
COMMIT TRANSACTION -- or roll back on error, etc.
)
Again, SQL is highly optimized for helping you out if you choose the patterns I mention above, and NOT optimized for this kind of thing (there's overhead with creating the transaction AND you'll be issuing shared locks on all 5 tables while this process is going on). Compare that with using the PK / FK method above, where SQL Server knows exactly how to do it without locks, or the view method, where you're only inserting into 1 table.