A fundamental question in many-body physics is how closed quantum systems reach equilibrium. We address this question experimentally and theoretically in an ultracold large-spin Fermi gas where we find a complex interplay between internal and motional degrees of freedom. The fermions are initially prepared far from equilibrium with only a few spin states occupied. The subsequent dynamics leading to redistribution among all spin states is observed experimentally and simulated theoretically using

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... a kinetic Boltzmann equation with full spin coherence. The latter is derived microscopically and provides good agreement with experimental data without any free parameters. We identify several collisional processes, which occur on different time scales. By varying density and magnetic field, we control the relaxation dynamics and are able to continuously tune the character of a subset of spin states from an open to a closed system.