Bring a large pot of water to boil for pasta.
In a large, deep skillet, heat EVOO, 3 turns of the pan, over medium to medium-high heat. Melt butter then add mushrooms and brown well, 12-15 minutes. Add shallots, garlic, herbs, salt and pepper, and stir a few minutes more until very fragrant. Add tomato paste, stir to incorporate. Add sherry or Marsala and stir to combine, stir in cream and reduce heat to low; season with a little nutmeg. Allow sauce to gently reduce at a low bubble while pasta cooks.
When water is boiling, add salt and cook pasta to al dente. Reserve 1/2 cup starchy water just before draining. Drain pasta.