Why it happens
Fat from meat, butter, oil or cream is lighter than water, so if it isn't held in an emulsion it rises and sits on top of a sauce. Fatty cuts of meat and skin can release a lot of fat during long cooking. In sauces that rely on an emulsion, such as pan sauces finished with butter, overheating or boiling hard can make the fat separate out. Adding too much fat for the amount of liquid has the same effect.