Multilayers of [Co/Ni(t)/Co/Pt]×8 with varying Ni thickness were investigated for possible use as a free layer in magnetic tunnel junctions and spintronics devices. The thickness t of the Ni sub-layer was varied from 0.3 nm to 0.9 nm and the resulting magnetic properties were compared with (Co/Ni) and (Co/Pt) multilayers. As determined from magnetic force microscopy, magnetometry and ferromagnetic resonance measurements, all multilayers exhibited perpendicular magnetic anisotropy. Compared with (Co/Pt) multilayers, the sample with t of 0.9 nm showed almost the same anisotropy field of μ 0 H k = 1.15 T but the damping constant was 40% lower. These characteristics make these multilayers attractive for spin torque based magnetoresistive devices with perpendicular anisotropy.