Cryptic crossword clue
Making appearance, friend is boxing boxer in ring 13

The most common and most likely answer to this crossword clue is the 13 letter word MATERIALISING

I've seen this crossword clue in Financial Times
M
A
T
E
R
I
A
L
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S
I
N
G

Buddy explains!

The straight part
We know that "Making appearance" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case making appearance = materialising.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does MATERIALISING mean?

MATERIALISING verb
  1. To cause to take physical form, or to cause an object to appear.
  2. To take physical form, to appear seemingly from nowhere.
  3. To regard as matter; to consider or explain by the laws or principles which are appropriate to matter.

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