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1
Bring the broth to a simmer in a medium saucepan and keep warm over low heat.
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2
Heat 2 Tbsp. butter and the olive oil in a separate medium saucepan over medium heat until the butter is melted.
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3
Add the shallots and garlic and cook until softened, but not brown, about 5 minutes.
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4
Stir in the rice and cook until it is well-coated with the oil/butter mixture and begins to turn translucent, about 1-2 minutes.
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5
Add the champagne and simmer until all of the liquid is absorbed, about 3-5 minutes.
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6
Add about 1 cup of the warm broth from to the rice and stir regularly until the liquid is absorbed, about 3-5 minutes. You'll know the liquid is absorbed when you run your spoon through the rice and liquid doesn't immediately fill the bottom of the pan. Repeat, adding broth 1 cup at a time, until the rice is al dente (cooked through but still firm), about 18-22 minutes. While you don't have to stir the rice the entire time, you shouldn't leave the rice unattended for more than a minute or two and do stir the rice frequently.
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7
Combine the Parmesan, heavy cream, and pepper in a bowl.
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8
When the risotto is done, remove the pan from the heat and stir in the cheese, cream, and pepper mixture long with the remaining 2 Tbsp. of butter. Add salt to taste. Garnish at will.
