Place cashews in a large bowl and cover with water by 1-2 inches. Let soak for 3-8 hours. Drain, then combine with 2 cups water and blend until very smooth (1 full minute in a Vitamix or other high-speed blender, longer if using a standard blender).

Heat oil in a large skillet over moderate heat. Add mushrooms, shallot, garlic, thyme, salt and pepper. Sauté until the mushrooms are tender. Pour in cashew cream and continue cooking until heated through and reduced a bit, 5-10 minutes more. Taste for seasoning and adjust if necessary.

Serve over your favorite pasta.