| Serves 4-6
In a medium saucepan, over medium high heat bring milk and water to a boil. Whisk in the polenta, salt, and pepper, and return to a boil, whisking continuously. Turn to low heat, and simmer, whisking continuously, for 5 minutes. Float the butter in a thin layer on top of the polenta and leave at a low simmer, uncovered and without stirring for 45 minutes.
Brown the pancetta over medium heat in a large sauté pan. Add the onions and chard ribs and cook until they are lightly brown and tender. Add garlic, cook for 1 minute, then add the chard leaves and cook until tender.
Carefully whisk the butter into the polenta until fully incorporated. Ladle a cup of polenta on each plate or large shallow bowl in an off-center position. Dollop a generous spoonful of Caponata on the polenta and top with a sprinkle of cheese. Serve the chard and pancetta next to the polenta.