We introduce structured random matrix ensembles, constructed to model many-body quantum systems with local interactions. These ensembles are employed to study equilibration of isolated many-body quantum systems, showing that rather complex matrix structures, well beyond Wigners full or banded random matrices, are required to faithfully model equilibration times. Viewing the random matrices as connectivities of graphs, we analyse the resulting network of classical oscillators in Hilbert space with tools from network theory. One of these tools, called the maximum flow value, is found to be an excellent proxy for equilibration times. Since maximum flow values are less expensive to compute, they give access to approximate equilibration times for system sizes beyond those accessible by exact diagonalisation.
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