Spin-torque driven ferromagnetic resonance (ST-FMR) is used to study thin Co/Ni synthetic layers with perpendicular anisotropy confined in spin-valve based nanojunctions. Field swept ST-FMR measurements were conducted with a magnetic field applied perpendicular to the layer surface. The resonance lines were measured under low amplitude rf excitation, from 1 to 20 GHz. These results are compared with those obtained using conventional rf field driven FMR on extended films with the same Co/Ni layer structure. The layers confined in spin valves have a lower resonance field, a narrower resonance linewidth and approximately the same linewidth vs frequency slope, implying the same damping parameter. The critical current for magnetic excitations is determined from measurements of the resonance linewidth vs dc current and is in accord with the one determined from I-V measurements.Spin-transfer torque has been theoretically predicted and experimentally demonstrated to drive magnetic excitations in nanostructured spin valves and magnetic tunnel junctions [1,2,3,4,5]. With an rf current, spin transfer can be used to study ferromagnetic resonance [6,7]. This technique, known as spin-torque driven ferromagnetic resonance (ST-FMR), enables quantitative studies of the magnetic properties of thin layers in a spin-transfer device. Specifically, the layer magnetic anisotropy and damping can be determined [8], which are important parameters that need to be optimized in spin-torque-based memory and rf oscillator applications.Spin-transfer memory devices will likely include magnetic layers with perpendicular magnetic anisotropy that counteracts their shape-induced easy-plane anisotropy. This will allow efficient use of spin current for magnetic reversal with a reduced switching threshold [9] and a faster switching process [10]. Recent work by Mangin et al. [11] has demonstrated improvements of spin-torque efficiency in a spin valve that has perpendicularly magnetized Co/Ni synthetic layers. For further optimization of perpendicular anisotropy materials, it is important to have quantitative measurements of their anisotropy field and damping in a nanostructured device, as both of these parameters directly affect the threshold current for spintransfer induced switching.In this Letter, we present ST-FMR studies of bilayer nanopillars, where the thin (free) layer is composed of a Co/Ni synthetic layer and the thick (fixed) layer is pure Co. The magnetic anisotropy and damping of the Co/Ni have been determined by ST-FMR. We compare these results with those obtained from extended films with the same Co/Ni layer stack measured using traditional rf field driven FMR.Pillar junctions with submicron lateral dimensions ( Fig. 1(a)) were patterned on a silicon wafer using a nanostencil process [12]. Junctions were deposited using metal evaporation with the layer structure 1.5 nm (a)