  Ultrafast magnetization dynamics of nickel has been studied for different
degrees of electronic excitation, using pump-probe second-harmonic generation
with 150 fs/800 nm laser pulses of various fluences. Information about the
electronic and magnetic response to laser irradiation is obtained from sums and
differences of the SHG intensity for opposite magnetization directions. The
classical M(T)-curve can be reproduced for delay times larger than the electron
thermalization time of about 280 fs, even when electrons and lattice have not
reached thermal equilibrium. Further we show that the transient magnetization
reaches its minimum approx. 50 fs before electron thermalization is completed.
