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1. Preheat oven to 325u00b0F (160u00b0C).
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2. Rub 1 tbsp (15 mL) olive oil, cracked pepper and salt over tenderloin.
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3. Heat 1 tbsp (15 mL) olive oil in an ovenproof medium-size skillet on high heat. Sear tenderloin on all sides, about 1 minute per side.
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4. Transfer tenderloin to plate and tent with foil.
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5. In the same skillet, add 1 tbsp (15 mL) olive oil and sear fig halves for 2 minutes per side, or until caramelized. Remove and reserve with tenderloin.
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6. In the same skillet add 1 tbsp (15 mL) olive oil and shallots and cook for 8 to 10 minutes or until soft.
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7. Add port, balsamic vinegar and thyme and bring liquid to a boil.
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8. Place tenderloin on top of the shallots and place figs around the tenderloin. Bake on middle rack in oven for 50 to 65 minutes or until desired doneness. For medium-rare, bring internal temperature to approximately 140u00b0F (60u00b0C); or medium, 160u00b0F (70u00b0C).
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9. Remove tenderloin and figs and tent with foil. Reserve.
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10. Bring remaining sauce to a boil and reduce to 1/2 cup (125 mL).
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11. Whisk in butter. Season with salt and pepper to taste.
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12. Cut tenderloin into 6 pieces, plate with figs and shallots and spoon sauce over tenderloin.
