  Nonlinear optical properties and carrier relaxation dynamics in graphene,
suspended in three different solvents, are investigated using femtosecond (80
fs pulses) Z-scan and degenerate pumpprobe spectroscopy at 790 nm. The results
demonstrate saturable absorption property of graphene with a nonlinear
absorption coefficient, $beta$, of ~2 to 9x10^-8 cm/W. Two distinct time scales
associated with the relaxation of photoexcited carriers, a fast one in the
range of 130-330 fs (related to carrier-carrier scattering) followed by a
slower one in 3.5-4.9 ps range (associated with carrier-phonon scattering) are
observed.
