Ultrafast demagnetization has been studied in Si∕Pt(160Å)∕[Co25Ni75(x)∕Pt(8Å)]20 (x=3, 4.5, and 6 Å) multilayers with perpendicular anisotropy by magneto-optical pump-probe measurements in the polar geometry. Time-resolved measurements made in the saturated state showed that maximum demagnetization was achieved within 300 fs. Hysteresis loops were measured at a time delay of 1.3 ps for temperatures from 20 to 300 °C. The Curie temperature was found to increase from 150 to 250 °C with increasing Co25Ni75 thickness. By comparing the loops obtained with and without pump excitation, the increase in electron temperature due to the pump was estimated to be about 60 K.