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Preheat oven to 400 degrees. Rub olive oil all over beef tenderloin and season with salt and pepper. Place beef into a hot ovenproof pan over high heat and sear each side until browned. Place pan into the oven and bake until the desired temperature is achieved. Remove from oven and let rest before slicing and serving with the two sauces.
Heat Fustini's olive oil and butter in a medium pot over high heat and just as the foam subsides, add the onion. Cook the onion for a few minutes in the oil and add the water. Turn heat to low and cover. Cook until onions are very soft - 15 minutes. Remove the lid and continue cooking until all the water is gone. Keep cooking the onion until fully browned - being careful not to burn the bottom of the pan. Once onions are browned, add garlic, jalapeno, and thyme and continue cooking for 2 minutes. Season with salt and add the wine and scrape the bottom of the pan to deglaze. Cook wine until reduced by half then add vinegar and sugar. Simmer until all liquid is gone and the jam is thick - another 20 to 30 minutes. Season with black pepper and refrigerate until ready to use.
Mix all together very well and refrigerate until ready to use.
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