In a large pan, combine the pasta, butter, olive oil, pesto, pine nuts, salt, pepper, heavy whipping cream, and water. Cover the pot and cook over medium heat, stirring occasionally to prevent the pasta from sticking, until the pasta is done, about 15 minutes.

Sprinkle grated Parmesan generously, stir well, and serve. For extra flavor, grate more Parmesan on top right before serving.